Rafferty Asset Management LLC Has $14.56 Million Stock Position in Marathon Oil Co. (NYSE:MRO)

Rafferty Asset Management LLC trimmed its position in Marathon Oil Co. (NYSE:MROGet Rating) by 19.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 647,724 shares of the oil and gas producer’s stock after selling 153,121 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.09% of Marathon Oil worth $14,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRO. Washington Trust Advisors Inc. purchased a new stake in shares of Marathon Oil in the first quarter worth approximately $25,000. Zullo Investment Group Inc. purchased a new stake in shares of Marathon Oil in the first quarter worth approximately $30,000. CX Institutional purchased a new stake in shares of Marathon Oil in the second quarter worth approximately $34,000. Brown Brothers Harriman & Co. lifted its position 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 purchasing an additional 647 shares in the last quarter. Finally, Covestor Ltd lifted 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 worth $36,000 after purchasing an additional 619 shares in the last quarter. 75.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marathon Oil

In other news, CAO Rob L. White sold 2,000 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $32.31, for a total value of $64,620.00. Following the sale, the chief accounting officer now owns 41,377 shares in the company, valued at $1,336,890.87. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Marathon Oil news, CFO Dane E. Whitehead sold 28,553 shares of Marathon Oil stock in a transaction on Friday, September 30th. The shares were sold at an average price of $22.61, for a total transaction of $645,583.33. Following the sale, the chief financial officer now owns 229,129 shares in the company, valued at $5,180,606.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rob L. White sold 2,000 shares of Marathon Oil stock in a transaction on Friday, November 4th. The stock was sold at an average price of $32.31, for a total transaction of $64,620.00. Following the sale, the chief accounting officer now owns 41,377 shares in the company, valued at approximately $1,336,890.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 481,406 shares of company stock worth $15,004,236. Insiders own 0.52% of the company’s stock.

Marathon Oil Stock Performance

Shares of NYSE:MRO traded down $0.54 during trading on Thursday, reaching $30.65. The stock had a trading volume of 6,041,059 shares, compared to its average volume of 12,428,787. The stock has a fifty day simple moving average of $28.32 and a two-hundred day simple moving average of $26.30. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of 5.88, a P/E/G ratio of 0.56 and a beta of 2.47. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 0.32. Marathon Oil Co. has a 52 week low of $14.29 and a 52 week high of $33.42.

Marathon Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Wednesday, November 16th will be paid a $0.09 dividend. This is an increase from Marathon Oil’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.17%. Marathon Oil’s dividend payout ratio (DPR) is presently 6.91%.

Analyst Ratings Changes

MRO has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Marathon Oil from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 19th. Piper Sandler raised their price objective on shares of Marathon Oil from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Thursday, November 17th. Barclays raised their price objective on shares of Marathon Oil from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, October 19th. Mizuho cut their price objective on shares of Marathon Oil from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, August 18th. Finally, Jefferies Financial Group initiated coverage on shares of Marathon Oil in a research report on Wednesday, October 19th. They set a “hold” rating and a $30.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Marathon Oil presently has an average rating of “Moderate Buy” and an average price target of $32.75.

Marathon Oil 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.

Further Reading

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

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