Texas Permanent School Fund Reduces Holdings in Marathon Oil Co. (NYSE:MRO)

Texas Permanent School Fund decreased its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 5.0% during the third quarter, Holdings Channel.com reports. The fund owned 149,771 shares of the oil and gas producer’s stock after selling 7,964 shares during the period. Texas Permanent School Fund’s holdings in Marathon Oil were worth $1,838,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Marathon Oil by 0.7% during the second quarter. Vanguard Group Inc. now owns 94,394,130 shares of the oil and gas producer’s stock worth $1,341,340,000 after acquiring an additional 694,173 shares during the last quarter. BlackRock Inc. grew its stake in shares of Marathon Oil by 16.0% during the second quarter. BlackRock Inc. now owns 82,640,427 shares of the oil and gas producer’s stock worth $1,174,320,000 after acquiring an additional 11,401,401 shares during the last quarter. Invesco Ltd. grew its stake in shares of Marathon Oil by 12.0% during the second quarter. Invesco Ltd. now owns 50,605,844 shares of the oil and gas producer’s stock worth $719,110,000 after acquiring an additional 5,420,834 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Marathon Oil by 8.8% during the second quarter. Macquarie Group Ltd. now owns 46,852,052 shares of the oil and gas producer’s stock worth $665,767,000 after acquiring an additional 3,789,808 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Marathon Oil by 13.4% during the second quarter. Boston Partners now owns 14,375,738 shares of the oil and gas producer’s stock worth $204,231,000 after acquiring an additional 1,698,509 shares during the last quarter. Institutional investors and hedge funds own 82.70% of the company’s stock.

Shares of NYSE MRO opened at $12.53 on Friday. The business’s 50 day moving average price is $11.94 and its 200 day moving average price is $13.37. The firm has a market cap of $10.16 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.66 and a beta of 2.26. Marathon Oil Co. has a 52 week low of $11.06 and a 52 week high of $19.30. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.41.

Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.10. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.26 billion. Marathon Oil had a return on equity of 6.32% and a net margin of 16.15%. Marathon Oil’s revenue for the quarter was down 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. As a group, research analysts expect that Marathon Oil Co. will post 0.61 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 1.60%. Marathon Oil’s dividend payout ratio is presently 28.17%.

A number of brokerages have recently weighed in on MRO. Wells Fargo & Co boosted their price target on Marathon Oil from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Tudor Pickering lowered Marathon Oil from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Tuesday, September 24th. ValuEngine upgraded Marathon Oil from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Piper Jaffray Companies boosted their price target on Marathon Oil from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Royal Bank of Canada set a $21.00 target price on Marathon Oil and gave the company a “buy” rating in a research report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.24.

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 and International. 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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