Seven Eight Capital LP Invests $746,000 in Marathon Oil Corporation (MRO) Stock

Seven Eight Capital LP bought a new stake in Marathon Oil Corporation (NYSE:MRO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 62,952 shares of the oil and gas producer’s stock, valued at approximately $746,000.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in 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 period. Vanguard Group Inc. raised its position in shares of Marathon Oil Corporation by 3.5% during the first quarter. Vanguard Group Inc. now owns 84,869,602 shares of the oil and gas producer’s stock worth $1,340,940,000 after purchasing an additional 2,870,533 shares during the period. State Street Corp raised its position in shares of Marathon Oil Corporation by 1.7% during the first quarter. State Street Corp now owns 48,712,386 shares of the oil and gas producer’s stock worth $769,660,000 after purchasing an additional 811,608 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of Marathon Oil Corporation by 0.4% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 48,519,793 shares of the oil and gas producer’s stock worth $766,613,000 after purchasing an additional 187,090 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Marathon Oil Corporation by 0.5% during the second quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock worth $418,709,000 after purchasing an additional 172,691 shares during the period. 80.98% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on MRO. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marathon Oil Corporation in a research report on Saturday. Jefferies Group LLC set a $12.00 price target on Marathon Oil Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $20.00 price target on Marathon Oil Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. BidaskClub lowered Marathon Oil Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Finally, KLR Group reaffirmed a “buy” rating and set a $23.00 price target (up previously from $21.00) on shares of Marathon Oil Corporation in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. Marathon Oil Corporation presently has an average rating of “Hold” and an average price target of $17.33.

Shares of Marathon Oil Corporation (MRO) opened at 12.00 on Friday. Marathon Oil Corporation has a 1-year low of $10.55 and a 1-year high of $19.28. The company’s market capitalization is $10.20 billion. The company has a 50-day moving average price of $11.60 and a 200 day moving average price of $13.39.

Marathon Oil Corporation (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.10). Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned ($0.23) earnings per share. Marathon Oil Corporation’s revenue was down 4.0% on a year-over-year basis. Equities research analysts anticipate that Marathon Oil Corporation will post ($0.46) EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, August 14th. Marathon Oil Corporation’s payout ratio is currently -2.55%.

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

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