Los Angeles Capital Management LLC lowered its position in Marathon Oil Co. (NYSE:MRO - Free Report) by 95.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,413 shares of the oil and gas producer's stock after selling 2,125,022 shares during the period. Los Angeles Capital Management LLC's holdings in Marathon Oil were worth $2,914,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. HWG Holdings LP purchased a new stake in Marathon Oil during the 2nd quarter worth about $26,000. Founders Capital Management boosted its holdings in shares of 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 purchasing 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 $29,000. Grove Bank & Trust increased its stake in 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, Hilltop National Bank lifted its position in Marathon Oil by 89.5% during the second quarter. Hilltop National Bank now owns 1,620 shares of the oil and gas producer's stock worth $46,000 after buying an additional 765 shares during the period. Institutional investors and hedge funds own 77.24% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on MRO shares. 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 report on Thursday, October 3rd. Susquehanna reduced their target price on Marathon Oil from $39.00 to $37.00 and set a "positive" rating on the stock in a report on Wednesday, September 4th. Truist Financial dropped their price target 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. StockNews.com assumed coverage on Marathon Oil in a research note on Thursday, November 7th. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Marathon Oil from $33.00 to $30.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th. Nine 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.12.
Get Our Latest Research Report on MRO
Marathon Oil Trading Up 1.1 %
Shares of NYSE MRO traded up $0.30 during midday trading on Wednesday, reaching $28.62. The stock had a trading volume of 4,278,132 shares, compared to its average volume of 8,011,303. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The company's 50 day moving average price is $27.26 and its 200 day moving average price is $27.53. The firm has a market cap of $16.01 billion, a price-to-earnings ratio of 12.22 and a beta of 2.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.69.
Marathon Oil (NYSE:MRO - Get Free Report) last released its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The firm's revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Oil Co. will post 2.36 EPS for the current 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 given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, November 15th. Marathon Oil's payout ratio is 18.88%.
Insider Activity at Marathon Oil
In related news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction dated 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 sale, the vice president now owns 76,828 shares of the company's stock, valued at approximately $2,090,489.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Michael A. Henderson sold 38,000 shares of the business'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 transaction of $1,033,980.00. Following the completion of the transaction, the vice president now owns 76,828 shares of the company's stock, valued at approximately $2,090,489.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider now directly owns 100,000 shares in the company, valued at $2,750,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.
About Marathon Oil
(
Free Report)
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.
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