Traders Buy Large Volume of Put Options on Marathon Oil Corporation (MRO)

Marathon Oil Corporation (NYSE:MRO) saw unusually large options trading activity on Wednesday. Traders purchased 336 put options on the company. This represents an increase of approximately 102% compared to the average daily volume of 166 put options.

Shares of Marathon Oil Corporation (NYSE MRO) opened at $15.05 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.02 and a debt-to-equity ratio of 0.55. Marathon Oil Corporation has a 1-year low of $10.55 and a 1-year high of $19.28.

Marathon Oil Corporation (NYSE:MRO) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.06. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.04 billion. Marathon Oil Corporation had a negative net margin of 148.07% and a negative return on equity of 3.02%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.23) EPS. equities analysts forecast that Marathon Oil Corporation will post -0.4 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, November 14th. Marathon Oil Corporation’s dividend payout ratio (DPR) is presently -7.81%.

A number of analysts have recently issued reports on the stock. Scotiabank set a $19.00 target price on shares of Marathon Oil Corporation and gave the stock a “buy” rating in a research note on Monday, November 13th. Citigroup Inc. cut shares of Marathon Oil Corporation from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a research note on Thursday, November 9th. Zacks Investment Research lowered shares of Marathon Oil Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $18.00 price target on shares of Marathon Oil Corporation in a research report on Tuesday, November 7th. Finally, Jefferies Group LLC raised their price target on shares of Marathon Oil Corporation from $14.00 to $16.50 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $17.34.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Marathon Oil Corporation by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock valued at $1,027,132,000 after purchasing an additional 1,808,213 shares during the last quarter. Macquarie Group Ltd. boosted its position in Marathon Oil Corporation by 1.3% during the 3rd quarter. Macquarie Group Ltd. now owns 54,525,491 shares of the oil and gas producer’s stock worth $739,367,000 after buying an additional 693,366 shares during the period. State Street Corp boosted its position in Marathon Oil Corporation by 2.8% during the 2nd quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock worth $593,258,000 after buying an additional 1,350,863 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in Marathon Oil Corporation by 10.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 41,191,926 shares of the oil and gas producer’s stock worth $558,563,000 after buying an additional 3,767,268 shares during the period. Finally, Franklin Resources Inc. boosted its position in Marathon Oil Corporation by 0.5% during the 2nd quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock worth $418,709,000 after buying an additional 172,691 shares during the period. 79.45% of the stock is currently owned by institutional investors.

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About Marathon Oil Corporation

Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.

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