HGK Asset Management Inc. lowered its position in shares of Marathon Oil Corporation (NYSE:MRO) by 5.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 794,577 shares of the oil and gas producer’s stock after selling 48,920 shares during the quarter. HGK Asset Management Inc. owned 0.09% of Marathon Oil Corporation worth $9,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRO. BlackRock Inc. grew its holdings in Marathon Oil Corporation by 4,827.5% during the first quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock valued at $1,693,396,000 after purchasing an additional 105,001,815 shares during the period. Vanguard Group Inc. grew its holdings in Marathon Oil Corporation by 3.5% during the first quarter. Vanguard Group Inc. now owns 84,869,602 shares of the oil and gas producer’s stock valued at $1,340,940,000 after purchasing an additional 2,870,533 shares during the period. JPMorgan Chase & Co. grew its holdings in Marathon Oil Corporation by 39.8% during the second quarter. JPMorgan Chase & Co. now owns 4,709,387 shares of the oil and gas producer’s stock valued at $55,805,000 after purchasing an additional 1,341,589 shares during the period. Russell Investments Group Ltd. grew its holdings in Marathon Oil Corporation by 905.6% during the second quarter. Russell Investments Group Ltd. now owns 1,097,465 shares of the oil and gas producer’s stock valued at $13,005,000 after purchasing an additional 988,329 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in Marathon Oil Corporation during the second quarter valued at approximately $11,424,000. Hedge funds and other institutional investors own 80.98% of the company’s stock.

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Marathon Oil Corporation (NYSE:MRO) traded up 0.928% during mid-day trading on Monday, reaching $11.415. 2,504,254 shares of the company’s stock traded hands. The company has a 50 day moving average price of $11.64 and a 200-day moving average price of $13.50. Marathon Oil Corporation has a 12 month low of $10.55 and a 12 month high of $19.28. The stock’s market cap is $9.70 billion.

Marathon Oil Corporation (NYSE:MRO) last posted its quarterly earnings data 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. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. Marathon Oil Corporation’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) earnings per share. On average, analysts anticipate that Marathon Oil Corporation will post ($0.45) EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, August 14th. Marathon Oil Corporation’s dividend payout ratio is -2.55%.

A number of research analysts recently issued reports on the stock. FBR & Co restated a “buy” rating and set a $20.00 price objective on shares of Marathon Oil Corporation in a report on Tuesday, May 23rd. Jefferies Group LLC cut shares of Marathon Oil Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $16.00 in a report on Wednesday, May 17th. Scotiabank set a $23.00 price objective on shares of Marathon Oil Corporation and gave the company a “buy” rating in a report on Tuesday, May 16th. BMO Capital Markets restated a “hold” rating and set a $20.00 price objective on shares of Marathon Oil Corporation in a report on Monday, May 15th. Finally, ValuEngine cut shares of Marathon Oil Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.33.

Marathon Oil Corporation Company Profile

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.

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

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