Cerity Partners LLC Boosts Stock Position in Marathon Oil Co. (NYSE:MRO)

Cerity Partners LLC increased its position in shares of Marathon Oil Co. (NYSE:MRO - Free Report) by 336.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 340,119 shares of the oil and gas producer's stock after purchasing an additional 262,117 shares during the quarter. Cerity Partners LLC owned 0.06% of Marathon Oil worth $9,057,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MRO. HWG Holdings LP acquired a new position in shares of Marathon Oil during the 2nd quarter worth $26,000. Founders Capital Management raised its position in Marathon Oil by 100.0% during the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer's stock worth $29,000 after acquiring an additional 500 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Marathon Oil in the second quarter valued at about $29,000. Grove Bank & Trust grew its position in shares of Marathon Oil by 77.4% in the second quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Marathon Oil during the 3rd quarter worth approximately $36,000. 77.24% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Oil Stock Performance

Shares of Marathon Oil stock remained flat at $28.55 during trading hours on Wednesday. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 12.25 and a beta of 2.16. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.69. The stock's 50-day moving average price is $27.70 and its 200-day moving average price is $27.67.

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 for the quarter, beating analysts' consensus estimates of $0.63 by $0.01. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The firm had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.70 billion. During the same period in the previous year, the company posted $0.77 earnings per share. Marathon Oil's revenue was down 1.2% compared to the same quarter last year. On average, analysts expect that Marathon Oil Co. will post 2.34 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MRO shares. Piper Sandler lowered their target price on Marathon Oil from $37.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, November 18th. Susquehanna decreased their price objective on Marathon Oil from $39.00 to $37.00 and set a "positive" rating on the stock in a research note on Wednesday, September 4th. StockNews.com assumed coverage on shares of Marathon Oil in a research note on Saturday. They issued a "buy" rating for the company. Barclays decreased their price target on shares of Marathon Oil from $35.00 to $34.00 and set an "overweight" rating on the stock in a research note on Thursday, October 3rd. Finally, Truist Financial cut their price objective on shares of Marathon Oil from $35.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.94.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the transaction, the vice president now owns 76,828 shares in the company, valued at $2,090,489.88. This represents a 33.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the sale, the insider now owns 100,000 shares in the company, valued at $2,750,000. This represents a 34.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 382,693 shares of company stock valued at $10,964,251 over the last three months. 0.35% of the stock is owned by company insiders.

Marathon Oil Company Profile

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.