Principal Financial Group Inc. Acquires 34,503 Shares of Marathon Oil Co. (NYSE:MRO)

Principal Financial Group Inc. grew its position in Marathon Oil Co. (NYSE:MRO - Free Report) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664,128 shares of the oil and gas producer's stock after purchasing an additional 34,503 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Marathon Oil worth $17,686,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MRO. Envestnet Portfolio Solutions Inc. lifted its holdings in Marathon Oil by 51.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,872 shares of the oil and gas producer's stock worth $563,000 after buying an additional 6,743 shares during the last quarter. Sei Investments Co. boosted its holdings in Marathon Oil by 36.7% in the first quarter. Sei Investments Co. now owns 535,994 shares of the oil and gas producer's stock valued at $15,193,000 after purchasing an additional 143,912 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Marathon Oil by 139.9% in the first quarter. Russell Investments Group Ltd. now owns 735,547 shares of the oil and gas producer's stock valued at $20,844,000 after purchasing an additional 428,970 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Marathon Oil by 39.2% during the first quarter. Avantax Advisory Services Inc. now owns 22,232 shares of the oil and gas producer's stock worth $630,000 after purchasing an additional 6,256 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Marathon Oil by 13.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,519 shares of the oil and gas producer's stock worth $496,000 after buying an additional 2,037 shares during the last quarter. 77.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MRO. Mizuho decreased their price objective on shares of Marathon Oil from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Wells Fargo & Company reduced their price objective on Marathon Oil from $29.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, October 1st. StockNews.com began coverage on Marathon Oil in a report on Friday. They issued a "buy" rating on the stock. UBS Group decreased their price objective on shares of Marathon Oil from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their target price on Marathon Oil from $33.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, September 12th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.12.

Insider Transactions at Marathon Oil

In related news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction dated 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 sale, the insider now directly owns 100,000 shares of the company's stock, valued at approximately $2,750,000. This represents a 34.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil 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 transaction, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. This trade represents a 33.09 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Marathon Oil Stock Down 0.8 %

Shares of NYSE:MRO traded down $0.22 during trading on Friday, hitting $28.63. The company's stock had a trading volume of 2,464,434 shares, compared to its average volume of 7,969,513. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.69. Marathon Oil Co. has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The stock's 50-day moving average price is $27.33 and its two-hundred day moving average price is $27.55. The company has a market capitalization of $16.02 billion, a PE ratio of 12.39 and a beta of 2.16.

Marathon Oil (NYSE:MRO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the firm earned $0.77 earnings per share. The company's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that Marathon Oil Co. will post 2.36 EPS for the current year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, November 15th. Marathon Oil's dividend payout ratio is presently 18.88%.

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.