Hotchkis Wiley Capital Management Lowers stake in Marathon Oil Corporation (MRO)

Marathon Oil Corporation (MRO) : Hotchkis Wiley Capital Management reduced its stake in Marathon Oil Corporation by 18.15% during the most recent quarter end. The investment management company now holds a total of 45,510,297 shares of Marathon Oil Corporation which is valued at $669,911,572 after selling 10,094,195 shares in Marathon Oil Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Marathon Oil Corporation makes up approximately 2.71% of Hotchkis Wiley Capital Management’s portfolio.

Other Hedge Funds, Including , Janus Capital Management reduced its stake in MRO by selling 10,905 shares or 12.13% in the most recent quarter. The Hedge Fund company now holds 79,013 shares of MRO which is valued at $1,163,071.Apg Asset Management N.v. boosted its stake in MRO in the latest quarter, The investment management firm added 113,400 additional shares and now holds a total of 338,028 shares of Marathon Oil Corporation which is valued at $4,975,772. Marathon Oil Corporation makes up approx 0.01% of Apg Asset Management N.v.’s portfolio.New York State Teachers Retirement System reduced its stake in MRO by selling 56,123 shares or 4.32% in the most recent quarter. The Hedge Fund company now holds 1,244,327 shares of MRO which is valued at $17,557,454. Marathon Oil Corporation makes up approx 0.04% of New York State Teachers Retirement System’s portfolio.Gradient Investments boosted its stake in MRO in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 2,255 shares of Marathon Oil Corporation which is valued at $34,231.

Marathon Oil Corporation opened for trading at $15.84 and hit $16.075 on the upside on Monday, eventually ending the session at $15.99, with a gain of 0.25% or 0.04 points. The heightened volatility saw the trading volume jump to 98,84,429 shares. Company has a market cap of $13,548 M.

On the company’s financial health, Marathon Oil Corporation reported $-0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.25. The company had revenue of $1302.00 million for the quarter, compared to analysts expectations of $1076.24 million. The company’s revenue was down -15.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.23 EPS.

Many Wall Street Analysts have commented on Marathon Oil Corporation. Marathon Oil Corporation was Upgraded by BofA/Merrill to ” Buy” on Aug 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 8, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .Marathon Oil Corporation was Upgraded by Raymond James to ” Strong Buy” on Jul 7, 2016.

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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