Fisher Asset Management LLC Boosts Holdings in Marathon Oil Co. (NYSE:MRO)

Fisher Asset Management LLC boosted its position in Marathon Oil Co. (NYSE:MRO - Free Report) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,884,151 shares of the oil and gas producer's stock after buying an additional 171,450 shares during the quarter. Fisher Asset Management LLC owned approximately 0.52% of Marathon Oil worth $76,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MRO. Los Angeles Capital Management LLC purchased a new stake in Marathon Oil in the second quarter worth approximately $64,061,000. Magnetar Financial LLC bought a new stake in Marathon Oil in the second quarter valued at approximately $63,556,000. Pacer Advisors Inc. lifted 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 valued at $383,313,000 after purchasing an additional 1,552,210 shares during the last quarter. Slotnik Capital LLC bought a new stake in Marathon Oil in the second quarter valued at approximately $40,779,000. Finally, Water Island Capital LLC bought a new stake in Marathon Oil in the second quarter valued at approximately $33,273,000. Hedge funds and other institutional investors own 77.24% of the company's stock.

Insider Buying and Selling at Marathon Oil

In other 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 transaction of $1,033,980.00. Following the transaction, the vice president now directly owns 76,828 shares of the company's stock, valued at $2,090,489.88. The trade was a 33.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lee M. Tillman sold 256,591 shares of Marathon Oil stock in a transaction dated 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 transaction, the chief executive officer now directly owns 596,330 shares in the company, valued at approximately $17,335,313.10. The trade was a 30.08 % 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

Shares of Marathon Oil stock remained flat at $28.55 during trading on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. Marathon Oil Co. has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The stock has a market capitalization of $15.97 billion, a price-to-earnings ratio of 12.25 and a beta of 2.16. The company has a 50 day moving average price of $27.66 and a two-hundred day moving average price of $27.65.

Marathon Oil (NYSE:MRO - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.64 EPS for the quarter, beating 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 company had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.70 billion. During the same period last year, the firm posted $0.77 earnings per share. Marathon Oil's revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Oil Co. will post 2.34 earnings per share for the current year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued 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 is 18.88%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MRO. Susquehanna lowered their price objective on Marathon Oil from $39.00 to $37.00 and set a "positive" rating for the company in a research report on Wednesday, September 4th. Citigroup lowered their price objective on Marathon Oil from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Truist Financial lowered their price objective on Marathon Oil from $35.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. decreased their target price on Marathon Oil from $33.00 to $30.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Finally, Barclays decreased their target price on Marathon Oil from $35.00 to $34.00 and set an "overweight" rating for the company in a report on Thursday, October 3rd. 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.94.

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.