State of Tennessee Treasury Department lessened its holdings in Marathon Oil Co. (NYSE:MRO) by 0.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 140,365 shares of the oil and gas producer’s stock after selling 1,307 shares during the period. State of Tennessee Treasury Department’s holdings in Marathon Oil were worth $1,499,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of MRO. Dimensional Fund Advisors LP increased its holdings in Marathon Oil by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,176,801 shares of the oil and gas producer’s stock valued at $87,895,000 after buying an additional 1,420,462 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Marathon Oil during the fourth quarter valued at about $6,100,000. Bank of New York Mellon Corp lifted its position in shares of Marathon Oil by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 8,611,664 shares of the oil and gas producer’s stock valued at $57,441,000 after acquiring an additional 656,698 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Marathon Oil by 46.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,899,258 shares of the oil and gas producer’s stock worth $12,668,000 after acquiring an additional 602,616 shares during the period. Finally, Foundry Partners LLC purchased a new stake in shares of Marathon Oil during the fourth quarter worth about $3,807,000. 68.81% of the stock is currently owned by institutional investors.
In related news, insider Patrick Wagner sold 31,667 shares of Marathon Oil stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $13.72, for a total transaction of $434,471.24. Following the transaction, the insider now directly owns 263,959 shares of the company’s stock, valued at $3,621,517.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lee M. Tillman sold 67,500 shares of the business’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $11.08, for a total transaction of $747,900.00. Following the completion of the transaction, the chief executive officer now directly owns 1,270,512 shares of the company’s stock, valued at approximately $14,077,272.96. The disclosure for this sale can be found here. Insiders have sold a total of 166,667 shares of company stock worth $1,926,896 in the last three months. Insiders own 0.76% of the company’s stock.
Marathon Oil (NYSE:MRO) last announced its earnings results on Tuesday, May 4th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.10. Marathon Oil had a negative return on equity of 5.80% and a negative net margin of 44.69%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.09 billion. As a group, analysts predict that Marathon Oil Co. will post 0.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.19%. This is a boost from Marathon Oil’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, May 18th. Marathon Oil’s dividend payout ratio is presently -13.79%.
A number of research analysts recently commented on the company. Citigroup boosted their price target on Marathon Oil from $9.00 to $12.00 in a report on Tuesday, March 23rd. Raymond James restated a “buy” rating on shares of Marathon Oil in a research report on Wednesday, February 24th. Barclays raised their target price on shares of Marathon Oil from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, June 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of Marathon Oil from $9.00 to $12.00 in a research note on Tuesday, March 23rd. Finally, Mizuho increased their price objective on shares of Marathon Oil from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, May 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $10.58.
About Marathon Oil
Marathon Oil Corporation operates as an independent exploration and production company in the United States and Equatorial Guinea. 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, as well as owns and operates 32 central gathering and treating facilities and the Sugarloaf gathering system, a 42-mile natural gas pipeline through Karnes and Atascosa Counties.
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