Wed Sep 11 09:44:47 UTC 2024: ## Candriam S.C.A. Increases Stake in Marathon Oil, Institutional Investors Remain Bullish

**New York, NY -** Candriam S.C.A., a prominent investment firm, has increased its holdings in Marathon Oil Co. (NYSE:MRO) by 11.9% during the second quarter, according to a recent SEC filing. The firm now owns 64,833 shares of the oil and gas producer, valued at $1,859,000.

This move by Candriam S.C.A. reflects a broader trend of institutional investors showing continued interest in Marathon Oil. Several other hedge funds and institutional investors have also recently bought or increased their stakes in the company. Notably, Benjamin Edwards Inc. raised its stake by 226.0%, Founders Capital Management increased its position by 100.0%, and Grove Bank & Trust boosted its holdings by 77.4% during the second quarter. Overall, institutional investors own 77.24% of Marathon Oil’s stock.

Analysts remain cautiously optimistic about Marathon Oil, with a “Moderate Buy” rating and a consensus price target of $32.03. However, recent reports from Citigroup, UBS Group, and Capital One Financial have downgraded the company’s rating, suggesting a more neutral outlook.

Despite missing analyst expectations for earnings per share in the latest quarter, Marathon Oil’s revenue grew by 12.8% year-over-year, indicating strong performance. The company also recently declared a quarterly dividend of $0.11 per share, representing a dividend yield of 1.68%.

While analysts remain divided on the company’s short-term prospects, the sustained interest from institutional investors suggests confidence in Marathon Oil’s long-term growth potential in the oil and gas sector.

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