Wedmont Private Capital grew its holdings in shares of Marathon Oil Co. (NYSE:MRO – Free Report) by 12.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 33,731 shares of the oil and gas producer’s stock after purchasing an additional 3,601 shares during the period. Wedmont Private Capital’s holdings in Marathon Oil were worth $981,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of MRO. Blackstone Inc. lifted its holdings in Marathon Oil by 23.1% during the 4th quarter. Blackstone Inc. now owns 79,901 shares of the oil and gas producer’s stock worth $1,930,000 after buying an additional 15,000 shares during the period. Quadrature Capital Ltd bought a new position in shares of Marathon Oil during the fourth quarter worth about $6,837,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Marathon Oil by 19.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 715,772 shares of the oil and gas producer’s stock worth $20,285,000 after acquiring an additional 117,061 shares during the last quarter. Comerica Bank raised its position in shares of Marathon Oil by 15.0% during the first quarter. Comerica Bank now owns 172,258 shares of the oil and gas producer’s stock worth $4,882,000 after acquiring an additional 22,526 shares during the last quarter. Finally, Signet Financial Management LLC raised its position in shares of Marathon Oil by 51.6% during the first quarter. Signet Financial Management LLC now owns 77,646 shares of the oil and gas producer’s stock worth $2,200,000 after acquiring an additional 26,442 shares during the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Citigroup lowered their price objective on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. UBS Group lowered their price objective on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Mizuho decreased their target price on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Truist Financial decreased their target price on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, StockNews.com initiated coverage on Marathon Oil in a research note on Sunday, October 6th. They set a “buy” rating for the company. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Oil currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.12.
Insider Activity at Marathon Oil
In related news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the transaction, the vice president now owns 76,828 shares of the company’s stock, valued at $2,090,489.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction on Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the sale, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction on 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 sale, the insider now owns 100,000 shares in the company, valued at $2,750,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
Marathon Oil Trading Up 0.7 %
Shares of Marathon Oil stock opened at $28.33 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.57. Marathon Oil Co. has a 52 week low of $21.81 and a 52 week high of $30.06. The stock has a 50 day moving average price of $27.51 and a two-hundred day moving average price of $27.73. The stock has a market capitalization of $15.85 billion, a PE ratio of 11.02 and a beta of 2.16.
Marathon Oil (NYSE:MRO – Get Free Report) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. As a group, equities analysts anticipate that Marathon Oil Co. will post 2.53 earnings per share for the current fiscal year.
Marathon Oil Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 annualized dividend and a dividend yield of 1.55%. Marathon Oil’s payout ratio is 17.12%.
Marathon Oil 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.
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