South Street Advisors and Victory Capital Management Inc. have reduced their shareholdings in Marathon Oil. However, National Pension Service and Principal Financial Group Inc. have increased their stakes. ConocoPhillips has proposed a $22.5B acquisition of Marathon Oil, which outperformed its competitors on a strong trading day, yet lagged behind the broader market on various days. The proposed merger has obtained approval from Marathon Oil shareholders but is facing a lawsuit from an investor and scrutiny from the government. Regardless, the company is thriving, exceeding Q3 earnings and revenue estimates but missing its Q2 projections. It has also declared dividends for both the second and third quarters of 2024. Although MRO shares are rallying thanks to the buyout agreement, they are underperforming compared to the Nasdaq. Some investors perceive a promising outlook for the stocks as RBC prepares for a final preview before the merger.
Marathon Oil Stocks MRO News Analytics from Wed, 31 Jan 2024 08:00:00 GMT to Sat, 16 Nov 2024 16:32:20 GMT -
Rating 2
- Innovation -2
- Information 3
- Rumor -6
