TD Asset Management Inc. cut its holdings in Marathon Oil Co. (NYSE:MRO – Get Rating) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,133,346 shares of the oil and gas producer’s stock after selling 12,065 shares during the period. TD Asset Management Inc. owned about 0.16% of Marathon Oil worth $25,840,000 as of its most recent SEC filing.
→ Cash Holders STILL Aren’t Taking Steps to Prepare (From Investor Place Media)
Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in shares of Marathon Oil by 0.8% in the 1st quarter. State Street Corp now owns 48,341,531 shares of the oil and gas producer’s stock worth $1,213,856,000 after buying an additional 392,821 shares in the last quarter. Northern Trust Corp raised its stake in Marathon Oil by 15.4% in the 2nd quarter. Northern Trust Corp now owns 9,050,291 shares of the oil and gas producer’s stock valued at $203,450,000 after purchasing an additional 1,209,296 shares during the last quarter. Wellington Management Group LLP raised its stake in Marathon Oil by 1,220.4% in the 1st quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock valued at $219,828,000 after purchasing an additional 8,091,570 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Marathon Oil by 60.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,739,802 shares of the oil and gas producer’s stock valued at $194,346,000 after purchasing an additional 2,904,140 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Marathon Oil by 35.3% in the first quarter. First Trust Advisors LP now owns 7,026,775 shares of the oil and gas producer’s stock valued at $176,442,000 after buying an additional 1,835,182 shares during the last quarter. 77.30% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on MRO. Credit Suisse Group upped their price objective on shares of Marathon Oil from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 3rd. StockNews.com downgraded shares of Marathon Oil from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Evercore ISI began coverage on shares of Marathon Oil in a research note on Thursday, January 5th. They set an “outperform” rating on the stock. Piper Sandler reduced their price objective on shares of Marathon Oil from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, January 13th. Finally, The Goldman Sachs Group upped their price objective on shares of Marathon Oil from $27.00 to $30.00 and gave the company a “sell” rating in a research note on Wednesday, November 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.88.
Marathon Oil Price Performance
MRO opened at $27.47 on Wednesday. The company has a fifty day simple moving average of $27.71 and a 200 day simple moving average of $26.86. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of 5.27, a PEG ratio of 0.32 and a beta of 2.43. Marathon Oil Co. has a twelve month low of $19.11 and a twelve month high of $33.42. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32.
Marathon Oil (NYSE:MRO – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The oil and gas producer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.07 billion. Marathon Oil had a net margin of 46.11% and a return on equity of 27.76%. Equities research analysts expect that Marathon Oil Co. will post 4.45 EPS for the current fiscal year.
Marathon Oil Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Wednesday, February 15th will be issued a dividend of $0.10 per share. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, February 14th. Marathon Oil’s dividend payout ratio (DPR) is currently 6.91%.
Insider Transactions at Marathon Oil
In related news, VP Michael A. Henderson sold 80,000 shares of Marathon Oil stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $32.56, for a total value of $2,604,800.00. Following the sale, the vice president now directly owns 105,250 shares in the company, valued at approximately $3,426,940. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Marathon Oil news, CAO Rob L. White sold 2,000 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $32.31, for a total transaction of $64,620.00. Following the sale, the chief accounting officer now directly owns 41,377 shares in the company, valued at approximately $1,336,890.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Henderson sold 80,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $32.56, for a total transaction of $2,604,800.00. Following the sale, the vice president now owns 105,250 shares in the company, valued at $3,426,940. The disclosure for this sale can be found here. In the last three months, insiders have sold 419,601 shares of company stock worth $13,493,768. 0.52% of the stock is currently owned by insiders.
About Marathon Oil
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.
Featured Stories
Want to see what other hedge funds are holding MRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Oil Co. (NYSE:MRO – Get Rating).
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.
Before you consider Marathon Oil, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Marathon Oil wasn’t on the list.
While Marathon Oil currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Leave a Comment