Mackenzie Financial Corp Sells 380,895 Shares of Marathon Oil Co. (NYSE:MRO)

Mackenzie Financial Corp trimmed its holdings in shares of Marathon Oil Co. (NYSE:MRO - Free Report) by 88.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,269 shares of the oil and gas producer's stock after selling 380,895 shares during the period. Mackenzie Financial Corp's holdings in Marathon Oil were worth $1,384,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MRO. Riverview Trust Co bought a new position in Marathon Oil during the first quarter valued at about $27,000. Benjamin Edwards Inc. boosted its position in shares of Marathon Oil by 226.0% in the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 678 shares during the period. Founders Capital Management boosted its position in shares of Marathon Oil by 100.0% in the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer's stock valued at $29,000 after purchasing an additional 500 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Marathon Oil in the 2nd quarter valued at $29,000. Finally, Fortis Group Advisors LLC boosted its position in shares of Marathon Oil by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 618 shares during the period. 77.24% of the stock is owned by institutional investors and hedge funds.

Marathon Oil Stock Performance

Shares of MRO stock traded up $0.45 during trading on Friday, reaching $28.99. The company had a trading volume of 4,113,686 shares, compared to its average volume of 8,366,875. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. The firm's 50 day simple moving average is $27.44 and its two-hundred day simple moving average is $27.69. The company has a market capitalization of $16.35 billion, a PE ratio of 11.88 and a beta of 2.16. Marathon Oil Co. has a one year low of $21.81 and a one year high of $30.06.

Marathon Oil (NYSE:MRO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business's quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. Sell-side analysts forecast that Marathon Oil Co. will post 2.53 earnings per share for the current year.

Marathon Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.52%. The ex-dividend date was Wednesday, August 21st. Marathon Oil's dividend payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Marathon Oil from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday. StockNews.com assumed coverage on Marathon Oil in a research report on Saturday, September 28th. They issued a "buy" rating for the company. JPMorgan Chase & Co. decreased their price target on Marathon Oil from $33.00 to $30.00 and set a "neutral" rating for the company in a research report on Thursday, September 12th. UBS Group decreased their price objective on Marathon Oil from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, September 18th. Finally, Truist Financial decreased 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. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.09.

Insiders Place Their Bets

In other news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael A. Henderson sold 38,000 shares of the business's stock in a transaction 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 sale, the vice president now owns 76,828 shares of the company's stock, valued at $2,090,489.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dane E. Whitehead sold 52,008 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $2,750,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company's stock.

Marathon Oil 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.