Palladium Partners LLC Cuts Position in Marathon Oil Corporation (MRO)

Palladium Partners LLC cut its stake in Marathon Oil Corporation (NYSE:MRO) by 6.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,110 shares of the oil and gas producer’s stock after selling 1,075 shares during the period. Palladium Partners LLC’s holdings in Marathon Oil Corporation were worth $179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Marathon Oil Corporation by 4,827.5% in 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 buying an additional 105,001,815 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Marathon Oil Corporation by 3.5% in 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 buying an additional 2,870,533 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Marathon Oil Corporation by 91.1% in the first quarter. Bank of Montreal Can now owns 2,091,771 shares of the oil and gas producer’s stock valued at $33,050,000 after buying an additional 997,175 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Marathon Oil Corporation by 905.6% in 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 buying an additional 988,329 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Marathon Oil Corporation by 1.7% in the first quarter. State Street Corp now owns 48,712,386 shares of the oil and gas producer’s stock valued at $769,660,000 after buying an additional 811,608 shares during the last quarter. Institutional investors own 80.22% of the company’s stock.

Shares of Marathon Oil Corporation (NYSE MRO) traded up 0.46% during mid-day trading on Friday, reaching $10.87. The company’s stock had a trading volume of 28,729,837 shares. The firm’s market cap is $9.24 billion. Marathon Oil Corporation has a 12 month low of $10.55 and a 12 month high of $19.28. The company has a 50-day moving average of $11.87 and a 200-day moving average of $14.06.

Marathon Oil Corporation (NYSE:MRO) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by $0.10. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. Marathon Oil Corporation’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.23) earnings per share. On average, analysts predict that Marathon Oil Corporation will post ($0.45) earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be given a $0.05 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.20 annualized dividend and a yield of 1.84%. Marathon Oil Corporation’s dividend payout ratio is presently -2.55%.

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MRO has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $20.00 price target on shares of Marathon Oil Corporation and gave the stock a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. raised shares of Marathon Oil Corporation from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $19.00 to $15.00 in a research report on Wednesday, July 5th. Stephens began coverage on shares of Marathon Oil Corporation in a research report on Wednesday, July 12th. They issued an “equal weight” rating and a $14.00 price target for the company. ValuEngine lowered shares of Marathon Oil Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered shares of Marathon Oil Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. Marathon Oil Corporation currently has a consensus rating of “Hold” and an average target price of $17.30.

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.

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

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