Keybank National Association OH Trims Stake in Marathon Oil Corporation (MRO)

Keybank National Association OH trimmed its stake in shares of Marathon Oil Corporation (NYSE:MRO) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,251 shares of the oil and gas producer’s stock after selling 2,571 shares during the period. Keybank National Association OH’s holdings in Marathon Oil Corporation were worth $382,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Focused Wealth Management Inc lifted its position in shares of Marathon Oil Corporation by 0.7% during the first quarter. Focused Wealth Management Inc now owns 13,681 shares of the oil and gas producer’s stock worth $216,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank lifted its position in shares of Marathon Oil Corporation by 0.6% during the second quarter. Eastern Bank now owns 21,454 shares of the oil and gas producer’s stock worth $254,000 after purchasing an additional 135 shares in the last quarter. Cleararc Capital Inc. lifted its position in shares of Marathon Oil Corporation by 0.7% during the first quarter. Cleararc Capital Inc. now owns 20,728 shares of the oil and gas producer’s stock worth $328,000 after purchasing an additional 149 shares in the last quarter. Berkshire Asset Management LLC PA lifted its position in shares of Marathon Oil Corporation by 0.8% during the second quarter. Berkshire Asset Management LLC PA now owns 25,672 shares of the oil and gas producer’s stock worth $304,000 after purchasing an additional 200 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Marathon Oil Corporation by 1.3% during the second quarter. Blair William & Co. IL now owns 18,126 shares of the oil and gas producer’s stock worth $215,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 80.98% of the company’s stock.

A number of equities analysts have recently issued reports on MRO shares. Zacks Investment Research upgraded shares of Marathon Oil Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup Inc. upgraded shares of Marathon Oil Corporation from a “neutral” rating to a “buy” rating and cut their price objective for the company from $19.00 to $15.00 in a report on Wednesday, July 5th. Scotiabank restated a “buy” rating and issued a $19.00 price objective on shares of Marathon Oil Corporation in a report on Thursday, August 3rd. ValuEngine lowered shares of Marathon Oil Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Vetr lowered shares of Marathon Oil Corporation from a “strong-buy” rating to a “buy” rating and set a $14.22 price objective on the stock. in a report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.33.

Shares of Marathon Oil Corporation (NYSE:MRO) opened at 11.59 on Wednesday. Marathon Oil Corporation has a 12 month low of $10.55 and a 12 month high of $19.28. The company’s market cap is $9.85 billion. The stock’s 50 day moving average is $11.63 and its 200 day moving average is $13.47.

Marathon Oil Corporation (NYSE:MRO) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.10). Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned ($0.23) EPS. The firm’s revenue was down 4.0% on a year-over-year basis. On average, analysts anticipate that Marathon Oil Corporation will post ($0.46) EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.73%. Marathon Oil Corporation’s payout ratio is presently -2.55%.

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About Marathon Oil Corporation

Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.

Institutional Ownership by Quarter for Marathon Oil Corporation (NYSE:MRO)

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