Central Pacific Bank Trust Division Invests $69,000 in Marathon Oil Co. (NYSE:MRO)

Central Pacific Bank Trust Division purchased a new stake in shares of Marathon Oil Co. (NYSE:MROFree Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,400 shares of the oil and gas producer’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Riverview Trust Co purchased a new stake in shares of Marathon Oil during the first quarter worth $27,000. Benjamin Edwards Inc. boosted its stake in Marathon Oil by 226.0% in the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 678 shares during the period. Fortis Group Advisors LLC grew its holdings in Marathon Oil by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 618 shares in the last quarter. Manchester Capital Management LLC bought a new stake in shares of Marathon Oil during the fourth quarter valued at about $31,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Marathon Oil in the fourth quarter worth about $35,000. 77.24% of the stock is owned by institutional investors.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $28.17 on Thursday. The firm has a market cap of $15.89 billion, a price-to-earnings ratio of 11.64 and a beta of 2.19. The firm has a fifty day moving average price of $27.45 and a 200 day moving average price of $26.00. Marathon Oil Co. has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.48 and a current ratio of 0.55.

Marathon Oil (NYSE:MROGet Free Report) last issued its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. The business’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. As a group, sell-side analysts expect that Marathon Oil Co. will post 2.87 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, May 14th. Marathon Oil’s dividend payout ratio is presently 18.18%.

Analyst Ratings Changes

Several brokerages recently commented on MRO. StockNews.com started coverage on shares of Marathon Oil in a research note on Wednesday. They set a “buy” rating for the company. Benchmark reiterated a “buy” rating and issued a $32.00 price objective on shares of Marathon Oil in a research report on Friday, May 3rd. Scotiabank boosted their target price on Marathon Oil from $35.00 to $45.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Susquehanna reaffirmed a “positive” rating and issued a $33.00 price target on shares of Marathon Oil in a report on Monday, April 22nd. Finally, Stifel Nicolaus decreased their price objective on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.86.

Check Out Our Latest Research Report on MRO

Marathon Oil Profile

(Free Report)

Marathon Oil Corporation, an independent exploration and production company, engages in exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas in the United States and internationally. The company also produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol.

See Also

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

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