Hotchkis Wiley Capital Management buys $683.9 Million stake in Marathon Oil Corporation (MRO)

Marathon Oil Corporation (MRO) : Hotchkis Wiley Capital Management scooped up 17,138,328 additional shares in Marathon Oil Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 55,604,492 shares of Marathon Oil Corporation which is valued at $683.9 Million.Marathon Oil Corporation makes up approximately 2.92% of Hotchkis Wiley Capital Management’s portfolio.

Other Hedge Funds, Including , Korea Investment Corp sold out all of its stake in MRO during the most recent quarter. The investment firm sold 82,400 shares of MRO which is valued $1 Million. Archford Capital Strategies sold out all of its stake in MRO during the most recent quarter. The investment firm sold 49 shares of MRO which is valued $603. Ayalon Holdings Ltd. sold out all of its stake in MRO during the most recent quarter. The investment firm sold 30 shares of MRO which is valued $361. Canal Capital Management added MRO to its portfolio by purchasing 35,264 company shares during the most recent quarter which is valued at $496,870. Marathon Oil Corporation makes up approx 0.49% of Canal Capital Management’s portfolio.

Marathon Oil Corporation opened for trading at $13.23 and hit $13.6 on the upside on Wednesday, eventually ending the session at $13.54, with a gain of 3.99% or 0.52 points. The heightened volatility saw the trading volume jump to 1,69,99,922 shares. Company has a market cap of $11,477 M.

On the company’s financial health, Marathon Oil Corporation reported $-0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.44. The company had revenue of $730.00 million for the quarter, compared to analysts expectations of $901.52 million. The company’s revenue was down -52.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.37 EPS.

Many Wall Street Analysts have commented on Marathon Oil Corporation. Marathon Oil Corporation was Downgraded by Wells Fargo to ” Market Perform” on Apr 13, 2016. Shares were Reiterated by Deutsche Bank on Mar 29, 2016 to “Buy” and Lowered the Price Target to $ 18 from a previous price target of $19 .Shares were Reiterated by RBC Capital Mkts on Feb 19, 2016 to “Sector Perform” and Lowered the Price Target to $ 13 from a previous price target of $15 .

Marathon Oil Corporation is an energy company based in Houston Texas with operations in North America Europe and Africa. The Company operates in three segments: North America E&P segment which explores for produces and markets crude oil and condensate NGLs and natural gas in North America; International E&P segment which explores for produces and markets crude oil and condensate NGLs and natural gas outside of North America and produces and markets products manufactured from natural gas such as LNG and methanol in Egypt and Oil Sands Mining segment which mines extracts and transports bitumen from oil sands deposits in Alberta Canada and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil. It has production operations in the United States Egypt Canada the United Kingdom and Libya. The focus of its the United States operations is its three core unconventional resource plays including the Eagle Ford Bakken and Oklahoma Resource Basins.

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