Everence Capital Management Inc. Raises Stock Holdings in Marathon Oil Co. (NYSE:MRO)

Everence Capital Management Inc. increased its position in Marathon Oil Co. (NYSE:MRO) by 128.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,780 shares of the oil and gas producer’s stock after purchasing an additional 22,330 shares during the period. Everence Capital Management Inc.’s holdings in Marathon Oil were worth $488,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MRO. BlackRock Inc. grew its stake in Marathon Oil by 16.0% in 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 purchasing an additional 11,401,401 shares during the period. Invesco Ltd. grew its stake in shares of Marathon Oil by 12.0% in 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. Nuveen Asset Management LLC grew its stake in shares of Marathon Oil by 259.0% in the second quarter. Nuveen Asset Management LLC now owns 5,977,564 shares of the oil and gas producer’s stock worth $84,941,000 after acquiring an additional 4,312,323 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Marathon Oil by 8.8% in 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, Marshall Wace North America L.P. grew its stake in shares of Marathon Oil by 1,221.0% in the first quarter. Marshall Wace North America L.P. now owns 3,660,636 shares of the oil and gas producer’s stock worth $61,170,000 after acquiring an additional 3,383,518 shares during the last quarter. 82.84% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on MRO shares. Morgan Stanley cut their target price on Marathon Oil from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Co increased their target price on Marathon Oil from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Evercore ISI set a $21.00 target price on Marathon Oil and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Seaport Global Securities reissued a “buy” rating on shares of Marathon Oil in a research note on Friday, June 21st. Finally, Citigroup started coverage on Marathon Oil in a research note on Monday, September 23rd. They issued a “neutral” rating and a $13.00 target price on the stock. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Marathon Oil has a consensus rating of “Buy” and an average price target of $21.22.

Shares of NYSE:MRO traded up $0.05 during midday trading on Wednesday, reaching $11.14. 262,779 shares of the company’s stock traded hands, compared to its average volume of 11,654,623. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.97 and a beta of 2.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.09. Marathon Oil Co. has a one year low of $11.07 and a one year high of $23.21. The stock has a 50 day moving average of $12.28 and a 200 day moving average of $14.21.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.36 billion. Marathon Oil had a return on equity of 6.32% and a net margin of 16.15%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. Sell-side analysts predict that Marathon Oil Co. will post 0.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, August 20th. Marathon Oil’s payout ratio is currently 28.17%.

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 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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