NewEdge Advisors LLC grew its holdings in shares of Marathon Oil Co. (NYSE:MRO - Free Report) by 267.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,351 shares of the oil and gas producer's stock after purchasing an additional 50,474 shares during the period. NewEdge Advisors LLC's holdings in Marathon Oil were worth $1,988,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Public Employees Retirement Association of Colorado boosted its holdings in Marathon Oil by 374.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 73,592 shares of the oil and gas producer's stock valued at $1,778,000 after purchasing an additional 58,081 shares in the last quarter. Blackstone Inc. boosted its holdings in Marathon Oil by 23.1% in the fourth quarter. Blackstone Inc. now owns 79,901 shares of the oil and gas producer's stock valued at $1,930,000 after purchasing an additional 15,000 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Marathon Oil in the fourth quarter valued at approximately $5,051,000. Quadrature Capital Ltd acquired a new position in Marathon Oil in the fourth quarter valued at approximately $6,837,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Marathon Oil by 19.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 715,772 shares of the oil and gas producer's stock valued at $20,285,000 after buying an additional 117,061 shares during the last quarter. 77.24% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Oil Stock Up 1.6 %
Shares of MRO traded up $0.45 during trading on Friday, reaching $28.99. The company's stock had a trading volume of 4,123,779 shares, compared to its average volume of 8,366,913. The company has a fifty day moving average of $27.46 and a two-hundred day moving average of $27.71. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 11.98 and a beta of 2.16. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41.
Marathon Oil (NYSE:MRO - Get Free Report) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) 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 business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company earned $0.48 earnings per share. The business's revenue for the quarter was up 12.8% on a year-over-year basis. On average, sell-side analysts predict that Marathon Oil Co. will post 2.53 EPS for the current fiscal year.
Marathon Oil Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a yield of 1.52%. Marathon Oil's payout ratio is currently 18.18%.
Analysts Set New Price Targets
MRO has been the subject of a number of research reports. Citigroup reduced their price objective on Marathon Oil from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, September 5th. Piper Sandler upped their price target on Marathon Oil from $34.00 to $37.00 and gave the stock an "overweight" rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. cut their price target on Marathon Oil from $33.00 to $30.00 and set a "neutral" rating for the company in a research note on Thursday, September 12th. Wells Fargo & Company cut their price target on Marathon Oil from $29.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, UBS Group cut their price target on Marathon Oil from $30.00 to $28.00 and set a "neutral" rating for the company in a research note on Wednesday, September 18th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.09.
Check Out Our Latest Stock Report on MRO
Insider Buying and Selling
In related news, insider Dane E. Whitehead sold 52,008 shares of the company'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 completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $2,750,000. This represents 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. In related news, insider Dane E. Whitehead sold 52,008 shares of the company'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 completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $2,750,000. This represents 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, VP Michael A. Henderson sold 38,000 shares of the company'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 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 disclosure for this sale can be found here. 0.35% of the stock is owned by company 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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