Fmr LLC Sells 7,699,409 Shares of Marathon Oil Co. (MRO)

Fmr LLC trimmed its holdings in Marathon Oil Co. (NYSE:MRO) by 56.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,923,140 shares of the oil and gas producer’s stock after selling 7,699,409 shares during the period. Fmr LLC owned approximately 0.69% of Marathon Oil worth $123,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norinchukin Bank The grew its position in shares of Marathon Oil by 14.6% during the 1st quarter. Norinchukin Bank The now owns 77,856 shares of the oil and gas producer’s stock valued at $1,256,000 after purchasing an additional 9,923 shares in the last quarter. Trillium Asset Management LLC purchased a new position in shares of Marathon Oil during the 2nd quarter valued at $3,160,000. BP PLC grew its position in shares of Marathon Oil by 8.0% during the 2nd quarter. BP PLC now owns 108,000 shares of the oil and gas producer’s stock valued at $2,253,000 after purchasing an additional 8,000 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Marathon Oil by 4,361.8% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 472,509 shares of the oil and gas producer’s stock valued at $9,857,000 after purchasing an additional 461,919 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Marathon Oil by 7.0% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 1,287,350 shares of the oil and gas producer’s stock valued at $26,854,000 after purchasing an additional 83,679 shares in the last quarter. Institutional investors and hedge funds own 80.60% of the company’s stock.

NYSE MRO opened at $20.88 on Friday. Marathon Oil Co. has a 52-week low of $11.84 and a 52-week high of $22.74. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.45. The firm has a market cap of $17.56 billion, a PE ratio of -54.95, a P/E/G ratio of 1.60 and a beta of 2.39.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). Marathon Oil had a positive return on equity of 2.25% and a negative net margin of 3.03%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm posted ($0.24) earnings per share. The business’s revenue was up 33.8% on a year-over-year basis. equities analysts expect that Marathon Oil Co. will post 0.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Tuesday, August 14th. Marathon Oil’s dividend payout ratio is currently -52.63%.

A number of research firms have recently commented on MRO. BMO Capital Markets restated a “hold” rating and set a $23.00 price target on shares of Marathon Oil in a research report on Tuesday, July 10th. Stifel Nicolaus set a $21.00 price target on shares of Marathon Oil and gave the company a “hold” rating in a research report on Wednesday, August 29th. Morgan Stanley began coverage on shares of Marathon Oil in a research report on Thursday, July 12th. They set an “equal weight” rating and a $23.00 price target for the company. Zacks Investment Research upgraded shares of Marathon Oil from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a research report on Wednesday, July 4th. Finally, Tudor Pickering upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating in a research report on Friday, June 8th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $21.65.

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.

Further Reading: Risk Tolerance

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

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