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Kingsview Wealth Management LLC Increases Position in Marathon Oil Co. (NYSE:MRO)

Marathon Oil logo with Oils/Energy background

Kingsview Wealth Management LLC increased its stake in shares of Marathon Oil Co. (NYSE:MRO - Free Report) by 560.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,864 shares of the oil and gas producer's stock after purchasing an additional 64,369 shares during the quarter. Kingsview Wealth Management LLC's holdings in Marathon Oil were worth $2,020,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MRO. Price T Rowe Associates Inc. MD increased its position in Marathon Oil by 2.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 815,085 shares of the oil and gas producer's stock worth $23,100,000 after purchasing an additional 23,323 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Marathon Oil in the 1st quarter valued at approximately $788,000. Janus Henderson Group PLC increased its position in Marathon Oil by 5.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,225,585 shares of the oil and gas producer's stock valued at $63,073,000 after acquiring an additional 121,130 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Marathon Oil by 43.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 25,847 shares of the oil and gas producer's stock valued at $691,000 after acquiring an additional 7,822 shares during the period. Finally, Tidal Investments LLC increased its position in Marathon Oil by 125.3% in the 1st quarter. Tidal Investments LLC now owns 69,311 shares of the oil and gas producer's stock valued at $1,963,000 after acquiring an additional 38,546 shares during the period. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marathon Oil

In related news, CEO Lee M. Tillman sold 256,591 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $29.07, for a total value of $7,459,100.37. Following the completion of the sale, the chief executive officer now directly owns 596,330 shares of the company's stock, valued at approximately $17,335,313.10. This represents a 30.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael A. Henderson sold 38,000 shares of the company's stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 382,693 shares of company stock valued at $10,964,251. 0.35% of the stock is owned by company insiders.

Marathon Oil Price Performance

MRO remained flat at $28.55 during trading on Tuesday. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.61. The stock's fifty day moving average is $27.66 and its 200-day moving average is $27.65. The firm has a market cap of $15.97 billion, a price-to-earnings ratio of 12.25 and a beta of 2.16.

Marathon Oil (NYSE:MRO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 EPS 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 quarter in the prior year, the company posted $0.77 earnings per share. The business's revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts expect that Marathon Oil Co. will post 2.34 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, November 15th. Marathon Oil's dividend payout ratio (DPR) is presently 18.88%.

Analyst Ratings Changes

Several brokerages have issued reports on MRO. Citigroup decreased their price target on shares of Marathon Oil from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Oil from $33.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, September 12th. Piper Sandler reduced their price objective on shares of Marathon Oil from $37.00 to $34.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. Susquehanna reduced their price objective on shares of Marathon Oil from $39.00 to $37.00 and set a "positive" rating on the stock in a research note on Wednesday, September 4th. Finally, Mizuho reduced their price objective on shares of Marathon Oil from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $30.94.

Check Out Our Latest Stock Report on Marathon Oil

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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Institutional Ownership by Quarter for Marathon Oil (NYSE:MRO)

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