Marathon Oil Co. (MRO) Position Decreased by Advisory Services Network LLC

Advisory Services Network LLC cut its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 27.2% during the third quarter, Holdings Channel reports. The fund owned 28,979 shares of the oil and gas producer’s stock after selling 10,804 shares during the quarter. Advisory Services Network LLC’s holdings in Marathon Oil were worth $674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of MRO. First Mercantile Trust Co. acquired a new position in Marathon Oil in the 2nd quarter valued at $111,000. Centaurus Financial Inc. acquired a new position in Marathon Oil in the 2nd quarter valued at $133,000. Mount Yale Investment Advisors LLC acquired a new position in Marathon Oil in the 2nd quarter valued at $133,000. Harvest Fund Management Co. Ltd acquired a new position in Marathon Oil in the 3rd quarter valued at $134,000. Finally, Envestnet Asset Management Inc. grew its holdings in Marathon Oil by 146.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 6,973 shares of the oil and gas producer’s stock valued at $146,000 after buying an additional 4,144 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.

MRO opened at $17.84 on Friday. The firm has a market cap of $15.66 billion, a PE ratio of -46.95, a P/E/G ratio of 1.50 and a beta of 2.45. Marathon Oil Co. has a 52-week low of $14.27 and a 52-week high of $24.20. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Wednesday, November 7th. The oil and gas producer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. Marathon Oil had a positive return on equity of 2.25% and a negative net margin of 3.03%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the company earned ($0.08) EPS. Marathon Oil’s revenue for the quarter was up 33.1% on a year-over-year basis. Equities analysts forecast that Marathon Oil Co. will post 0.77 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 20th. This represents a $0.20 annualized dividend and a dividend yield of 1.12%. Marathon Oil’s dividend payout ratio is currently -52.63%.

In related news, VP Thomas Mitchell Little sold 117,333 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $20.69, for a total transaction of $2,427,619.77. Following the completion of the sale, the vice president now directly owns 394,569 shares in the company, valued at approximately $8,163,632.61. The sale was disclosed in a filing with the SEC, which is available through this link. 0.40% of the stock is owned by corporate insiders.

A number of brokerages have commented on MRO. TheStreet raised Marathon Oil from a “c” rating to a “b-” rating in a report on Wednesday. Barclays set a $25.00 target price on Marathon Oil and gave the stock a “buy” rating in a report on Friday, October 26th. Zacks Investment Research raised Marathon Oil from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Wednesday, October 24th. Piper Jaffray Companies reissued a “buy” rating and set a $35.00 target price on shares of Marathon Oil in a report on Wednesday, October 24th. Finally, Wells Fargo & Co raised Marathon Oil from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 23rd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $23.99.

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

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