Marathon Oil Co. (NYSE:MRO) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in Marathon Oil Co. (NYSE:MRO - Free Report) by 40.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 110,395 shares of the oil and gas producer's stock after selling 75,087 shares during the quarter. Amalgamated Bank's holdings in Marathon Oil were worth $2,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MRO. Vanguard Group Inc. grew its position in Marathon Oil by 9.9% in the first quarter. Vanguard Group Inc. now owns 75,751,369 shares of the oil and gas producer's stock worth $2,146,794,000 after acquiring an additional 6,835,604 shares during the period. Los Angeles Capital Management LLC purchased a new position in Marathon Oil in the second quarter worth approximately $64,061,000. Magnetar Financial LLC purchased a new position in Marathon Oil in the second quarter worth approximately $63,556,000. Pacer Advisors Inc. grew its position in Marathon Oil by 13.1% in the second quarter. Pacer Advisors Inc. now owns 13,369,821 shares of the oil and gas producer's stock worth $383,313,000 after acquiring an additional 1,552,210 shares during the period. Finally, Slotnik Capital LLC purchased a new position in Marathon Oil in the second quarter worth approximately $40,779,000. Institutional investors and hedge funds own 77.24% of the company's stock.

Marathon Oil Stock Up 0.4 %

NYSE MRO traded up $0.12 during trading on Monday, reaching $28.62. 4,401,214 shares of the company's stock were exchanged, compared to its average volume of 8,032,923. The stock has a market cap of $16.01 billion, a P/E ratio of 12.27 and a beta of 2.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.52 and a current ratio of 0.69. The company has a 50 day moving average price of $27.25 and a two-hundred day moving average price of $27.52. Marathon Oil Co. has a 1 year low of $21.81 and a 1 year high of $30.06.

Marathon Oil (NYSE:MRO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the business earned $0.77 EPS. Marathon Oil's revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Oil Co. will post 2.37 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, November 15th. Marathon Oil's payout ratio is currently 18.88%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Mizuho lowered their price objective on Marathon Oil from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Citigroup dropped their price objective on Marathon Oil from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, September 5th. Susquehanna dropped their price objective on Marathon Oil from $39.00 to $37.00 and set a "positive" rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company dropped their price objective on Marathon Oil from $29.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 1st. Finally, Truist Financial dropped their price objective on Marathon Oil from $35.00 to $27.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.12.

Insider Activity

In other news, insider Dane E. Whitehead sold 52,008 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the sale, the insider now directly owns 100,000 shares of the company's stock, valued at approximately $2,750,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the completion of the sale, the insider now directly owns 100,000 shares of the company's stock, valued at $2,750,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of the company's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total value of $1,033,980.00. Following the sale, the vice president now directly owns 76,828 shares of the company's stock, valued at approximately $2,090,489.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company's stock.

About Marathon Oil

Marathon Oil Corporation, an independent exploration and production company, engages in exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas in the United States and internationally. The company also produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol.