The Manufacturers Life Insurance Company Has $14.06 Million Holdings in Marathon Oil Co. (NYSE:MRO)

The Manufacturers Life Insurance Company grew its holdings in Marathon Oil Co. (NYSE:MRO - Free Report) by 27.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 490,383 shares of the oil and gas producer's stock after acquiring an additional 106,461 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of Marathon Oil worth $14,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of Marathon Oil during the 1st quarter worth approximately $27,000. Benjamin Edwards Inc. boosted its stake in Marathon Oil by 226.0% during the first quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer's stock worth $28,000 after buying an additional 678 shares in the last quarter. Founders Capital Management boosted its stake 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 buying an additional 500 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Marathon Oil in the 2nd quarter valued at $29,000. Finally, Grove Bank & Trust raised its stake in shares of Marathon Oil by 77.4% in the 2nd quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 465 shares in the last quarter. Institutional investors own 77.24% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MRO shares. UBS Group lowered their target price on shares of Marathon Oil from $30.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. Capital One Financial downgraded shares of Marathon Oil from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 5th. Wells Fargo & Company dropped their target price on shares of Marathon Oil from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday. Barclays reduced 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 report on Thursday. Finally, Susquehanna cut their target price on shares of Marathon Oil from $39.00 to $37.00 and set a "positive" rating for the company in a research note on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.09.

Marathon Oil Trading Up 2.0 %

Shares of MRO traded up $0.57 on Thursday, reaching $28.54. 4,618,306 shares of the company's stock were exchanged, compared to its average volume of 8,389,057. The business has a 50 day moving average price of $27.43 and a two-hundred day moving average price of $27.68. Marathon Oil Co. has a 12 month low of $21.81 and a 12 month high of $30.06. The stock has a market capitalization of $16.10 billion, a P/E ratio of 11.73 and a beta of 2.16. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41.

Marathon Oil (NYSE:MRO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.06). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the company earned $0.48 EPS. The business's revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts anticipate that Marathon Oil Co. will post 2.57 earnings per share for the current year.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 annualized dividend and a dividend yield of 1.54%. Marathon Oil's payout ratio is currently 18.18%.

Insider Activity

In related news, 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 transaction, the insider now owns 100,000 shares of the company's stock, valued at approximately $2,750,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Dane E. Whitehead sold 52,008 shares of the firm's stock in a transaction 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 owns 100,000 shares of the company's stock, valued at approximately $2,750,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael A. Henderson sold 38,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 76,828 shares of the company's stock, valued at $2,090,489.88. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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.