Everence Capital Management Inc. purchased a new position in shares of Marathon Oil Co. (NYSE:MRO - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 43,090 shares of the oil and gas producer's stock, valued at approximately $1,147,000.
Other hedge funds also recently modified their holdings of the company. Resonant Capital Advisors LLC raised its position in Marathon Oil by 6.5% in the 3rd quarter. Resonant Capital Advisors LLC now owns 11,498 shares of the oil and gas producer's stock valued at $306,000 after buying an additional 698 shares during the last quarter. Blue Trust Inc. raised its position in Marathon Oil by 75.0% in the 3rd quarter. Blue Trust Inc. now owns 7,977 shares of the oil and gas producer's stock valued at $229,000 after buying an additional 3,418 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Marathon Oil by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 64,350 shares of the oil and gas producer's stock valued at $1,714,000 after buying an additional 617 shares during the last quarter. Secure Asset Management LLC raised its position in Marathon Oil by 5.5% in the 3rd quarter. Secure Asset Management LLC now owns 50,556 shares of the oil and gas producer's stock valued at $1,346,000 after buying an additional 2,651 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Marathon Oil by 564.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,832 shares of the oil and gas producer's stock valued at $102,000 after buying an additional 3,255 shares during the last quarter. Institutional investors and hedge funds own 77.24% of the company's stock.
Marathon Oil Stock Performance
NYSE:MRO traded down $0.17 during mid-day trading on Monday, hitting $26.55. 4,117,288 shares of the stock were exchanged, compared to its average volume of 8,186,019. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of 10.33 and a beta of 2.16. The firm's 50-day simple moving average is $27.53 and its 200 day simple moving average is $27.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.57. Marathon Oil Co. has a fifty-two week low of $21.81 and a fifty-two week high of $30.06.
Marathon Oil (NYSE:MRO - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.06). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business's revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. As a group, equities analysts anticipate that Marathon Oil Co. will post 2.52 EPS for the current fiscal year.
Marathon Oil Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.11 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 annualized dividend and a yield of 1.66%. Marathon Oil's dividend payout ratio is presently 17.12%.
Insider Buying and Selling at Marathon Oil
In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company's stock, valued at $2,750,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil 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 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of the business's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the transaction, the insider now directly owns 100,000 shares of the company's stock, valued at $2,750,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.
Analyst Ratings Changes
MRO has been the topic of a number of recent research reports. StockNews.com initiated coverage on Marathon Oil in a research report on Monday, October 14th. They issued a "buy" rating on the stock. 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 note on Tuesday, October 1st. 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 note on Thursday, September 12th. Barclays decreased their price target on Marathon Oil from $35.00 to $34.00 and set an "overweight" rating for the company in a research note on Thursday, October 3rd. Finally, Scotiabank raised their price target on Marathon Oil from $27.61 to $28.00 and gave the company a "sector perform" rating in a research note on Thursday, October 10th. Nine 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's stock. Based on data from MarketBeat, Marathon Oil currently has a consensus rating of "Moderate Buy" and an average target price of $31.12.
Read Our Latest Stock Analysis on Marathon Oil
Marathon Oil Company Profile
(
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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