Proxima Capital Management LLC Invests $4.09 Million in Marathon Oil Corporation (MRO)
Proxima Capital Management LLC bought a new stake in Marathon Oil Corporation (NYSE:MRO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 345,000 shares of the oil and gas producer’s stock, valued at approximately $4,088,000. Marathon Oil Corporation accounts for approximately 2.2% of Proxima Capital Management LLC’s portfolio, making the stock its 18th biggest position.
Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Marathon Oil Corporation by 4,827.5% in the 1st quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock valued at $1,693,396,000 after acquiring an additional 105,001,815 shares during the period. Vanguard Group Inc. increased its holdings in shares of Marathon Oil Corporation by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock valued at $1,027,132,000 after acquiring an additional 1,808,213 shares during the period. Macquarie Group Ltd. increased its stake in Marathon Oil Corporation by 112.6% in the 2nd quarter. Macquarie Group Ltd. now owns 53,832,125 shares of the oil and gas producer’s stock valued at $637,911,000 after buying an additional 28,514,387 shares during the period. State Street Corp increased its stake in Marathon Oil Corporation by 2.8% in the 2nd quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock valued at $593,258,000 after buying an additional 1,350,863 shares during the period. Finally, Franklin Resources Inc. increased its stake in Marathon Oil Corporation by 0.5% in the 2nd quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock valued at $418,709,000 after buying an additional 172,691 shares during the period. 80.98% of the stock is currently owned by institutional investors and hedge funds.
Marathon Oil Corporation (MRO) traded up 1.62% during midday trading on Friday, hitting $13.84. 3,127,501 shares of the company traded hands. 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 $11.76 billion. The stock has a 50 day moving average of $12.42 and a 200 day moving average of $13.07.
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 analysts’ consensus estimates of ($0.14) by ($0.10). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.23) earnings per share. Equities research analysts predict that Marathon Oil Corporation will post ($0.44) EPS for the current fiscal year.
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Several equities analysts have issued reports on the stock. Scotiabank set a $19.00 price objective on shares of Marathon Oil Corporation and gave the company a “buy” rating in a research note on Wednesday, October 4th. Morgan Stanley raised shares of Marathon Oil Corporation from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $17.00 to $14.00 in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Marathon Oil Corporation in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $16.00 price objective on the stock. Stifel Nicolaus set a $10.00 price objective on shares of Marathon Oil Corporation and gave the company a “hold” rating in a research note on Thursday, October 5th. Finally, Piper Jaffray Companies set a $20.00 price objective on shares of Marathon Oil Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.06.
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.
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