PNC Financial Services Group Inc. Cuts Stake in Marathon Oil Co. (MRO)

PNC Financial Services Group Inc. decreased its stake in shares of Marathon Oil Co. (NYSE:MRO) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 377,358 shares of the oil and gas producer’s stock after selling 11,906 shares during the period. PNC Financial Services Group Inc.’s holdings in Marathon Oil were worth $7,872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new position in Marathon Oil during the 1st quarter valued at about $102,000. First Mercantile Trust Co. purchased a new position in Marathon Oil during the 2nd quarter valued at about $111,000. Summit Trail Advisors LLC lifted its position in Marathon Oil by 1,935.8% during the 1st quarter. Summit Trail Advisors LLC now owns 128,030 shares of the oil and gas producer’s stock valued at $128,000 after acquiring an additional 121,741 shares during the period. Stelac Advisory Services LLC purchased a new position in Marathon Oil during the 1st quarter valued at about $147,000. Finally, Dupont Capital Management Corp lifted its position in Marathon Oil by 40.2% during the 1st quarter. Dupont Capital Management Corp now owns 9,859 shares of the oil and gas producer’s stock valued at $159,000 after acquiring an additional 2,829 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Marathon Oil stock opened at $20.52 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.51 and a quick ratio of 1.45. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 63.63, a PEG ratio of 1.60 and a beta of 2.39. Marathon Oil Co. has a 52-week low of $11.09 and a 52-week high of $22.74.

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

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

A number of research analysts recently issued reports on MRO shares. Zacks Investment Research raised shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Tuesday, July 31st. Jefferies Financial Group reissued a “hold” rating and set a $22.80 price target on shares of Marathon Oil in a research report on Wednesday, August 15th. Mizuho started coverage on shares of Marathon Oil in a research report on Monday, July 23rd. They set a “neutral” rating and a $28.00 price target for the company. ValuEngine cut shares of Marathon Oil from a “buy” rating to a “hold” rating in a research report on Thursday, July 5th. Finally, BMO Capital Markets reissued a “hold” rating and set a $23.00 price target on shares of Marathon Oil in a research report on Tuesday, July 10th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently 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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