DNB Asset Management AS Grows Stock Holdings in Marathon Oil Co. (NYSE:MRO)

DNB Asset Management AS lifted its holdings in Marathon Oil Co. (NYSE:MRO) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,842 shares of the oil and gas producer’s stock after buying an additional 4,745 shares during the period. DNB Asset Management AS’s holdings in Marathon Oil were worth $3,235,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in Marathon Oil in the first quarter worth about $27,000. Benjamin Edwards Inc. boosted its holdings in shares of Marathon Oil by 226.0% in the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 678 shares during the period. Fortis Group Advisors LLC increased its position in shares of Marathon Oil by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 618 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in Marathon Oil during the 4th quarter valued at $31,000. Finally, Scarborough Advisors LLC bought a new stake in Marathon Oil in the fourth quarter worth $35,000. 77.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Capital One Financial cut shares of Marathon Oil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 5th. Barclays started coverage on shares of Marathon Oil in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $35.00 price objective on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $29.00 target price (down previously from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. Truist Financial cut their target price on Marathon Oil from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Finally, Piper Sandler raised their price target on Marathon Oil from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.14.

Marathon Oil Trading Up 1.9 %

NYSE:MRO opened at $27.10 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.48 and a current ratio of 0.55. The firm has a 50-day simple moving average of $28.11 and a 200-day simple moving average of $26.61. Marathon Oil Co. has a one year low of $21.81 and a one year high of $30.06. The firm has a market cap of $15.29 billion, a P/E ratio of 10.99 and a beta of 2.19.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a yield of 1.62%. Marathon Oil’s dividend payout ratio is currently 18.18%.

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.