DNB Asset Management AS Has $3.24 Million Holdings in Marathon Oil Co. (NYSE:MRO)

DNB Asset Management AS grew its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,842 shares of the oil and gas producer’s stock after acquiring an additional 4,745 shares during the quarter. DNB Asset Management AS’s holdings in Marathon Oil were worth $3,235,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co bought a new stake in Marathon Oil during the 1st quarter worth $27,000. Benjamin Edwards Inc. increased its stake in shares of Marathon Oil by 226.0% in the first quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 678 shares during the period. Fortis Group Advisors LLC raised its holdings in Marathon Oil by 100.0% in 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 during the last quarter. Manchester Capital Management LLC acquired a new stake in Marathon Oil during the 4th quarter worth approximately $31,000. Finally, Scarborough Advisors LLC acquired a new position in Marathon Oil in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Stock Performance

NYSE MRO opened at $27.10 on Wednesday. The company has a fifty day moving average price of $28.11 and a 200-day moving average price of $26.61. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of 10.99 and a beta of 2.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.55 and a quick ratio of 0.48. Marathon Oil Co. has a 1 year low of $21.81 and a 1 year high of $30.06.

Marathon Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Oil’s payout ratio is 18.18%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MRO. Mizuho lifted their price target on shares of Marathon Oil from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Capital One Financial lowered shares of Marathon Oil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 5th. Wells Fargo & Company reiterated an “equal weight” rating and set a $29.00 price objective (down previously from $38.00) on shares of Marathon Oil in a report on Friday, May 31st. StockNews.com assumed coverage on Marathon Oil in a research note on Saturday. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 target price on shares of Marathon Oil in a research report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marathon Oil currently has an average rating of “Moderate Buy” and an average price target of $32.14.

Marathon Oil Company Profile

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.