Marathon Oil Co. (MRO) Position Increased by Trillium Asset Management LLC
Trillium Asset Management LLC boosted its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 154,341 shares of the oil and gas producer’s stock after purchasing an additional 2,851 shares during the quarter. Trillium Asset Management LLC’s holdings in Marathon Oil were worth $3,593,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in MRO. First Mercantile Trust Co. bought a new stake in shares of Marathon Oil in the 2nd quarter worth approximately $111,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Marathon Oil in the 3rd quarter worth approximately $134,000. Stelac Advisory Services LLC bought a new stake in shares of Marathon Oil in the 3rd quarter worth approximately $138,000. Duncker Streett & Co. Inc. lifted its position in shares of Marathon Oil by 65.6% in the 3rd quarter. Duncker Streett & Co. Inc. now owns 6,312 shares of the oil and gas producer’s stock worth $147,000 after acquiring an additional 2,500 shares during the period. Finally, Centaurus Financial Inc. bought a new stake in shares of Marathon Oil in the 2nd quarter worth approximately $133,000. Hedge funds and other institutional investors own 84.03% of the company’s stock.
In other news, VP Thomas Mitchell Little sold 117,333 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $20.69, for a total value of $2,427,619.77. Following the completion of the transaction, the vice president now directly owns 394,569 shares of the company’s stock, valued at approximately $8,163,632.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.
Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, November 7th. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. Marathon Oil had a return on equity of 4.47% and a net margin of 10.94%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the firm posted ($0.08) EPS. Marathon Oil’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, equities research analysts expect that Marathon Oil Co. will post 0.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.26%. Marathon Oil’s payout ratio is presently -52.63%.
A number of analysts have commented on the company. JPMorgan Chase & Co. set a $27.00 price objective on Marathon Oil and gave the stock a “buy” rating in a research report on Monday, October 1st. They noted that the move was a valuation call. Piper Jaffray Companies reiterated an “overweight” rating on shares of Marathon Oil in a research report on Friday, September 28th. ValuEngine upgraded Marathon Oil from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Morgan Stanley raised their price objective on Marathon Oil from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, September 26th. Finally, Royal Bank of Canada set a $27.00 price objective on Marathon Oil and gave the stock a “hold” rating in a research report on Thursday, September 20th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $23.84.
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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.
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