Oil

Avantax Advisory Services Inc. Trims Stock Holdings in Marathon Oil Co. (NYSE:MRO)

Avantax Advisory Services Inc. reduced its holdings in shares of Marathon Oil Co. (NYSE:MROGet Rating) by 40.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,592 shares of the oil and gas producer’s stock after selling 17,599 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Marathon Oil were worth $578,000 at the end of the most recent quarter.

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Several other institutional investors and hedge funds also recently bought and sold shares of the business. Ronald Blue Trust Inc. purchased a new position in shares of Marathon Oil in the second quarter valued at $30,000. CX Institutional bought a new stake in shares of Marathon Oil during the second quarter valued at about $34,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Marathon Oil by 90.6% in the first quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 647 shares in the last quarter. Covestor Ltd boosted its position in shares of Marathon Oil by 76.6% in the first quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 619 shares during the period. Finally, High Net Worth Advisory Group LLC grew its stake in Marathon Oil by 50.0% during the first quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the oil and gas producer’s stock valued at $38,000 after acquiring an additional 500 shares in the last quarter. 77.30% of the stock is owned by institutional investors.

Marathon Oil Trading Up 0.8 %

MRO opened at $28.10 on Tuesday. Marathon Oil Co. has a one year low of $17.01 and a one year high of $33.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 1.04. The business has a 50 day simple moving average of $28.11 and a two-hundred day simple moving average of $26.57. The firm has a market capitalization of $17.79 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.30 and a beta of 2.43.

Marathon Oil (NYSE:MROGet Rating) last posted its earnings results on Wednesday, November 2nd. The oil and gas producer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. Marathon Oil had a return on equity of 27.76% and a net margin of 46.11%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Analysts predict that Marathon Oil Co. will post 4.48 EPS for the current year.

Marathon Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Wednesday, November 16th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.28%. This is a boost from Marathon Oil’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, November 15th. Marathon Oil’s dividend payout ratio (DPR) is currently 6.91%.

Insider Activity

In related news, CFO Dane E. Whitehead sold 172,230 shares of the stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $31.86, for a total value of $5,487,247.80. Following the completion of the transaction, the chief financial officer now directly owns 205,870 shares of the company’s stock, valued at $6,559,018.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Patrick Wagner sold 135,371 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $32.21, for a total transaction of $4,360,299.91. Following the sale, the insider now owns 134,714 shares in the company, valued at approximately $4,339,137.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Dane E. Whitehead sold 172,230 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $31.86, for a total transaction of $5,487,247.80. Following the sale, the chief financial officer now directly owns 205,870 shares in the company, valued at approximately $6,559,018.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 419,601 shares of company stock valued at $13,493,768. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Marathon Oil from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, November 7th. Citigroup dropped their price target on Marathon Oil from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, January 13th. Barclays raised their price target on Marathon Oil from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 7th. The Goldman Sachs Group increased their price objective on Marathon Oil from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Wednesday, November 23rd. Finally, Jefferies Financial Group started coverage on Marathon Oil in a research report on Wednesday, October 19th. They issued a “hold” rating and a $30.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.38.

Marathon Oil Company Profile

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Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

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Institutional Ownership by Quarter for Marathon Oil (NYSE:MRO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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