BlackRock Fund Advisors recently announced the acquisition of new stake in Marathon Oil Corporation (NYSE:MRO). The institutional investor has increased its shareholding in the Energy company by 0.00% to 32.42 million shares with purchase of 944.0 shares. This fresh investment now brings its stake to 5.35% valued currently at $885.37 million. In addition, Invesco Advisers, Inc. raised its holdings by 8.88 million to 18.05 million shares. And Hotchkis & Wiley Capital Manageme has lifted its position by 6.44% or 0.94 million shares – to 15.59 million shares.
With over 8.27 million Marathon Oil Corporation (MRO) shares trading Monday and a closing price of $25.06 on the day, the dollar volume was approximately $207.16 million. The shares have shown a positive half year performance of 9.24% and its price on 12/04/23 lost nearly -1.49%. Currently, there are 633.00M common shares owned by the public and among those 582.92M shares have been available to trade.
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Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 1,426,335 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 1,101,700 shares.
The top 3 mutual fund holders in Marathon Oil Corporation are Vanguard Total Stock Market ETF, SPDR Series – Energy Select Secto, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 18.96 million shares of the company’s stock, all valued at over $517.82 million. The company bought an additional 30054.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. SPDR Series – Energy Select Secto sold -0.1 million shares to see its total holdings shrink to 17.17 million shares valued at over $468.97 million and representing 2.84% of the shares outstanding. Vanguard 500 Index Fund bought 88231.0 shares to bring its total holdings to over 14.64 million shares at a value of $399.95 million. Vanguard 500 Index Fund now owns shares totaling to 2.42% of the shares outstanding.
Shares of Marathon Oil Corporation (NYSE: MRO) opened at $25.10, down -$0.34 from a prior closing price of $25.44. However, the script later moved the day high at 25.41, down -1.49%. The company’s stock has a 5-day price change of -1.03% and -7.73% over the past three months. MRO shares are trading -7.43% year to date (YTD), with the 12-month market performance down to -16.72% lower. It has a 12-month low price of $20.57 and touched a high of $30.66 over the same period. MRO has an average intraday trading volume of 10.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.54%, -5.13%, and 0.27% respectively.
Institutional ownership of Marathon Oil Corporation (NYSE: MRO) shares accounts for 78.96% of the company’s 633.00M shares outstanding. Mutual fund holders own 32.72%, while other institutional holders and individual stakeholders account for 43.83% and 1.08% respectively.
It has a market capitalization of $14.67B and a beta (3y monthly) value of 2.23. The stock’s trailing 12-month PE ratio is 9.27, while the earnings-per-share (ttm) stands at $2.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.39% over the week and 2.51% over the month.
Analysts forecast that Marathon Oil Corporation (MRO) will achieve an EPS of $0.81 for the current quarter, $0.9 for the next quarter and $3.74 for 2024. The lowest estimate earnings-per-share for the quarter is $0.48 while analysts give the company a high EPS estimate of $1.07. Comparatively, EPS for the current quarter was $0.88 a year ago. Earnings per share for the fiscal year are expected to decrease by -38.90%, and 34.36% over the next financial year.
Looking at the support for the MRO, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on July 12, 2023, with the firm’s price target at $25.
