‘More Pain Likely Ahead’: 5 Stocks to Brace Yourself for Recession

2. Marathon Oil Corporation (NYSE:MRO)

Number of Hedge Fund Holders: 43

Marathon Oil Corporation (NYSE:MRO) is an independent exploration and production company in the United States and internationally, offering crude oil and condensate, natural gas liquids, and natural gas. The company reported a Q1 EPS of $1.02, above consensus by $0.04. 2022 marks the 5th consecutive year of dividend growth for Marathon Oil Corporation (NYSE:MRO). The company reported a per share quarterly dividend of $0.08, a 14.3% increase from its prior dividend of $0.07. The dividend is payable on June 10, for shareholders of record on May 18. 

Mizuho analyst Vincent Lovaglio on May 31 raised the price target on Marathon Oil Corporation (NYSE:MRO) to $38 from $35 and maintained a Buy rating on the shares. According to the analyst, the global energy crisis has driven energy commodity prices higher, while logistics and supply chain challenges, the macro uncertainty, and a change in corporate behavior impede on the growth prospects, the analyst told investors. This theme benefited the U.S. exploration and production companies, and the analyst expects this to remain the case. 

According to the database of Insider Monkey, 43 funds were long Marathon Oil Corporation (NYSE:MRO) at the end of Q1 2022, compared to 40 funds in the earlier quarter. John Overdeck and David Siegel’s Two Sigma Advisors is one of the leading stakeholders of the company, with 6.4 million shares worth $162.8 million.