DnB Asset Management AS Boosts Holdings in Marathon Oil Co. (MRO)
DnB Asset Management AS grew its stake in shares of Marathon Oil Co. (NYSE:MRO) by 7.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 97,409 shares of the oil and gas producer’s stock after acquiring an additional 6,400 shares during the period. DnB Asset Management AS’s holdings in Marathon Oil were worth $1,649,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp bought a new stake in shares of Marathon Oil during the third quarter worth $149,000. Glenview Trust Co grew its stake in shares of Marathon Oil by 13.5% during the second quarter. Glenview Trust Co now owns 13,044 shares of the oil and gas producer’s stock worth $155,000 after buying an additional 1,550 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Marathon Oil during the third quarter worth $159,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Marathon Oil by 21.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,011 shares of the oil and gas producer’s stock worth $166,000 after buying an additional 2,486 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new stake in shares of Marathon Oil during the third quarter worth $173,000. 80.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on MRO. BMO Capital Markets reaffirmed a “hold” rating and set a $21.00 target price on shares of Marathon Oil in a research note on Thursday. Credit Suisse Group began coverage on shares of Marathon Oil in a research note on Monday, December 11th. They set an “outperform” rating and a $20.00 target price on the stock. Jefferies Group reaffirmed a “hold” rating and set a $12.00 target price on shares of Marathon Oil in a research note on Friday, October 6th. Atlantic Securities raised shares of Marathon Oil from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Finally, Stifel Nicolaus set a $10.00 target price on shares of Marathon Oil and gave the stock a “hold” rating in a research note on Thursday, October 5th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $16.65.
Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Marathon Oil had a negative net margin of 148.07% and a negative return on equity of 3.02%. Marathon Oil’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. analysts forecast that Marathon Oil Co. will post -0.31 EPS for the current year.
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About Marathon Oil
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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