Sanders Morris Harris LLC grew its position in shares of Marathon Oil Co. (NYSE:MRO) by 61.8% in the second quarter, Holdings Channel reports. The firm owned 55,000 shares of the oil and gas producer’s stock after purchasing an additional 21,000 shares during the period. Sanders Morris Harris LLC’s holdings in Marathon Oil were worth $337,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Beacon Financial Advisory LLC raised its position in Marathon Oil by 23.7% during the second quarter. Beacon Financial Advisory LLC now owns 23,385 shares of the oil and gas producer’s stock valued at $143,000 after purchasing an additional 4,485 shares in the last quarter. State Street Corp raised its position in Marathon Oil by 11.5% during the first quarter. State Street Corp now owns 48,581,438 shares of the oil and gas producer’s stock valued at $159,833,000 after purchasing an additional 5,027,576 shares in the last quarter. Royal Bank of Canada raised its position in Marathon Oil by 77.3% during the first quarter. Royal Bank of Canada now owns 1,051,057 shares of the oil and gas producer’s stock valued at $3,458,000 after purchasing an additional 458,150 shares in the last quarter. AXA raised its position in Marathon Oil by 54.7% during the first quarter. AXA now owns 1,026,512 shares of the oil and gas producer’s stock valued at $3,378,000 after purchasing an additional 362,763 shares in the last quarter. Finally, Pathstone Family Office LLC purchased a new stake in Marathon Oil during the first quarter valued at about $26,000. 81.21% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on MRO. ValuEngine upgraded Marathon Oil from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Co downgraded Marathon Oil from an “overweight” rating to an “equal weight” rating and set a $10.00 price objective on the stock. in a report on Thursday, June 25th. Wolfe Research downgraded Marathon Oil from a “market perform” rating to an “underperform” rating in a report on Thursday, April 2nd. Credit Suisse Group lifted their price objective on Marathon Oil from $4.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. downgraded Marathon Oil from an “overweight” rating to a “neutral” rating in a report on Wednesday, March 25th. Four equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $11.00.
Shares of MRO traded down $0.11 during mid-day trading on Thursday, reaching $5.56. The company had a trading volume of 292,936 shares, compared to its average volume of 29,079,158. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.27 and a current ratio of 1.32. The firm has a 50-day moving average price of $6.21 and a 200 day moving average price of $7.81. Marathon Oil Co. has a 52 week low of $3.02 and a 52 week high of $14.39. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 17.72 and a beta of 3.39.
Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Marathon Oil had a return on equity of 1.90% and a net margin of 4.98%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that Marathon Oil Co. will post -1.38 earnings per share for the current fiscal year.
Marathon Oil Company 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 and International. 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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