State of Alaska Department of Revenue Purchases 103,290 Shares of Marathon Oil Co. (NYSE:MRO)

State of Alaska Department of Revenue increased its position in shares of Marathon Oil Co. (NYSE:MRO - Free Report) by 67.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 257,399 shares of the oil and gas producer's stock after purchasing an additional 103,290 shares during the period. State of Alaska Department of Revenue's holdings in Marathon Oil were worth $6,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MRO. Park Avenue Securities LLC raised its holdings in Marathon Oil by 4.8% in the 1st quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer's stock valued at $257,000 after acquiring an additional 415 shares in the last quarter. Gradient Investments LLC raised its holdings in Marathon Oil by 1.9% in the 2nd quarter. Gradient Investments LLC now owns 22,829 shares of the oil and gas producer's stock valued at $655,000 after acquiring an additional 428 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in Marathon Oil by 1.9% in the 3rd quarter. Miracle Mile Advisors LLC now owns 24,084 shares of the oil and gas producer's stock valued at $641,000 after acquiring an additional 454 shares in the last quarter. Grove Bank & Trust raised its holdings in 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 acquiring an additional 465 shares in the last quarter. Finally, Founders Capital Management increased its stake 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 last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the business's 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 completion of the sale, the vice president now directly 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Dane E. Whitehead sold 52,008 shares of the company's stock in a transaction that occurred 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael A. Henderson sold 38,000 shares of the company's stock in a transaction that occurred on 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 approximately $2,090,489.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MRO shares. Mizuho decreased their price target on Marathon Oil from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Citigroup decreased their price target on Marathon Oil from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. UBS Group reduced their price objective on Marathon Oil from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 18th. Truist Financial reduced their price objective on Marathon Oil from $35.00 to $27.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Finally, Barclays reduced their price objective on Marathon Oil from $35.00 to $34.00 and set an "overweight" rating on the stock in a research report on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.12.

Marathon Oil Stock Down 0.9 %

MRO stock traded down $0.23 during trading on Tuesday, reaching $25.88. 4,238,022 shares of the stock were exchanged, compared to its average volume of 8,060,364. The firm's 50 day moving average is $27.37 and its 200 day moving average is $27.55. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. The firm has a market cap of $14.48 billion, a P/E ratio of 10.07 and a beta of 2.16.

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 return on equity of 13.81% and a net margin of 22.12%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the company posted $0.48 earnings per share. The firm's quarterly revenue was up 12.8% compared to the same quarter last year. As a group, research analysts forecast that Marathon Oil Co. will post 2.43 EPS for the current year.

Marathon Oil Announces Dividend

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 dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Oil's dividend payout ratio is currently 17.12%.

Marathon Oil Company 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.