Renaissance Technologies LLC Has $98.47 Million Position in Marathon Oil Co. (MRO)

Renaissance Technologies LLC increased its holdings in Marathon Oil Co. (NYSE:MRO) by 771.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,720,646 shares of the oil and gas producer’s stock after buying an additional 4,178,700 shares during the period. Renaissance Technologies LLC owned 0.55% of Marathon Oil worth $98,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Marathon Oil by 1.3% in the 2nd quarter. BlackRock Inc. now owns 68,516,539 shares of the oil and gas producer’s stock worth $1,429,255,000 after buying an additional 873,896 shares during the period. Millennium Management LLC boosted its holdings in Marathon Oil by 17.0% in the 1st quarter. Millennium Management LLC now owns 21,759,825 shares of the oil and gas producer’s stock valued at $350,986,000 after purchasing an additional 3,163,372 shares during the period. Boston Partners boosted its holdings in Marathon Oil by 474.2% in the 2nd quarter. Boston Partners now owns 20,245,111 shares of the oil and gas producer’s stock valued at $422,312,000 after purchasing an additional 16,719,492 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Marathon Oil by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,886,008 shares of the oil and gas producer’s stock valued at $185,354,000 after purchasing an additional 904,437 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Marathon Oil by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,735,200 shares of the oil and gas producer’s stock valued at $161,356,000 after purchasing an additional 59,160 shares during the period. 80.77% of the stock is owned by institutional investors.

Marathon Oil stock opened at $20.52 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 1.51. The firm has a market cap of $17.39 billion, a PE ratio of 63.63, a P/E/G ratio of 1.60 and a beta of 2.39. Marathon Oil Co. has a fifty-two week low of $11.09 and a fifty-two week high of $22.74.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.06). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Marathon Oil had a negative net margin of 3.03% and a positive return on equity of 2.25%. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.24) EPS. equities analysts forecast that Marathon Oil Co. will post 0.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Tuesday, August 14th. Marathon Oil’s dividend payout ratio (DPR) is currently -52.63%.

Several brokerages have commented on MRO. Mizuho began coverage on shares of Marathon Oil in a report on Monday, July 23rd. They issued a “neutral” rating and a $28.00 price target for the company. Jefferies Financial Group reissued a “hold” rating and issued a $22.80 price target on shares of Marathon Oil in a report on Wednesday, August 15th. Zacks Investment Research raised shares of Marathon Oil from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a report on Wednesday, July 4th. Tudor Pickering raised shares of Marathon Oil from a “hold” rating to a “buy” rating in a report on Friday, June 8th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $23.00 price target on shares of Marathon Oil in a report on Tuesday, July 10th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $21.65.

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

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