Huntington National Bank lessened its stake in Marathon Oil Co. (NYSE:MRO) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,404 shares of the oil and gas producer’s stock after selling 4,280 shares during the quarter. Huntington National Bank’s holdings in Marathon Oil were worth $498,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of MRO. GSA Capital Partners LLP acquired a new position in Marathon Oil in the second quarter valued at about $392,000. Balyasny Asset Management LLC raised its stake in Marathon Oil by 102.5% during the second quarter. Balyasny Asset Management LLC now owns 132,384 shares of the oil and gas producer’s stock worth $1,569,000 after acquiring an additional 66,996 shares in the last quarter. Shelton Capital Management acquired a new position in Marathon Oil during the second quarter worth about $261,000. Janus Henderson Group PLC raised its stake in Marathon Oil by 6.5% during the second quarter. Janus Henderson Group PLC now owns 164,859 shares of the oil and gas producer’s stock worth $1,954,000 after acquiring an additional 10,004 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in Marathon Oil by 33.5% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 424,498 shares of the oil and gas producer’s stock worth $5,030,000 after acquiring an additional 106,621 shares in the last quarter. 80.52% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on the company. Morgan Stanley boosted their target price on Marathon Oil from $15.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Zacks Investment Research raised Marathon Oil from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Monday, January 15th. Jefferies Group reissued a “hold” rating and set a $19.80 target price on shares of Marathon Oil in a research note on Friday, January 19th. Stifel Nicolaus set a $18.00 target price on Marathon Oil and gave the stock a “hold” rating in a research note on Tuesday, January 30th. Finally, BMO Capital Markets reissued a “hold” rating and set a $21.00 target price on shares of Marathon Oil in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $17.91.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Tuesday, February 20th. Marathon Oil’s dividend payout ratio (DPR) is currently -2.40%.
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Marathon Oil 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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