State Board of Administration of Florida Retirement System cut its stake in Marathon Oil Co. (NYSE:MRO) by 3.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,246,085 shares of the oil and gas producer’s stock after selling 41,265 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Marathon Oil were worth $29,009,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allianz Asset Management GmbH grew its stake in Marathon Oil by 4,031.1% during the first quarter. Allianz Asset Management GmbH now owns 2,085,073 shares of the oil and gas producer’s stock worth $33,633,000 after buying an additional 2,034,601 shares during the period. DnB Asset Management AS lifted its position in shares of Marathon Oil by 3.5% during the second quarter. DnB Asset Management AS now owns 107,109 shares of the oil and gas producer’s stock worth $2,234,000 after purchasing an additional 3,600 shares in the last quarter. Clinton Group Inc. acquired a new position in shares of Marathon Oil during the second quarter worth $220,000. IFM Investors Pty Ltd lifted its position in shares of Marathon Oil by 41.9% during the second quarter. IFM Investors Pty Ltd now owns 39,655 shares of the oil and gas producer’s stock worth $827,000 after purchasing an additional 11,705 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new position in shares of Marathon Oil during the second quarter worth $255,000. Institutional investors own 80.01% of the company’s stock.
MRO has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on shares of Marathon Oil from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, September 26th. ValuEngine raised shares of Marathon Oil from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Mizuho raised shares of Marathon Oil from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $28.00 to $27.00 in a research report on Friday, October 19th. Royal Bank of Canada set a $27.00 target price on shares of Marathon Oil and gave the stock a “hold” rating in a research report on Thursday, September 20th. Finally, JPMorgan Chase & Co. set a $27.00 target price on shares of Marathon Oil and gave the stock a “buy” rating in a research report on Monday, October 1st. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $23.36.
MRO opened at $18.33 on Wednesday. The firm has a market capitalization of $15.55 billion, a P/E ratio of -48.24, a P/E/G ratio of 1.49 and a beta of 2.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 1.51. Marathon Oil Co. has a 12-month low of $14.27 and a 12-month high of $24.20.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.20 annualized dividend and a yield of 1.09%. Marathon Oil’s dividend payout ratio is presently -52.63%.
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Marathon Oil Profile
Marathon Oil Corporation operates as an energy company in the United States, Equatorial Guinea, the United Kingdom, and Libya. It operates in two segments, United States E&P and International E&P. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.
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