Envestnet Asset Management Inc. increased its stake in Marathon Oil Co. (NYSE:MRO – Free Report) by 32.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 983,870 shares of the oil and gas producer’s stock after purchasing an additional 242,087 shares during the period. Envestnet Asset Management Inc. owned 0.16% of Marathon Oil worth $13,436,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Phoenix Holdings Ltd. bought a new stake in shares of Marathon Oil in the 4th quarter worth approximately $1,464,000. Geneos Wealth Management Inc. raised its stake in Marathon Oil by 60.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,689 shares of the oil and gas producer’s stock valued at $184,000 after acquiring an additional 2,882 shares in the last quarter. Mather Group LLC. raised its stake in Marathon Oil by 1.9% during the 4th quarter. Mather Group LLC. now owns 59,687 shares of the oil and gas producer’s stock valued at $1,616,000 after acquiring an additional 1,118 shares in the last quarter. Sage Mountain Advisors LLC bought a new stake in Marathon Oil during the 1st quarter valued at $201,000. Finally, ING Groep NV raised its stake in Marathon Oil by 58.4% during the 1st quarter. ING Groep NV now owns 171,055 shares of the oil and gas producer’s stock valued at $4,098,000 after acquiring an additional 63,078 shares in the last quarter. Institutional investors own 76.62% of the company’s stock.
Insider Buying and Selling
In other news, insider Patrick Wagner sold 34,756 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $25.88, for a total value of $899,485.28. Following the sale, the insider now directly owns 167,533 shares in the company, valued at approximately $4,335,754.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Marathon Oil news, CAO Rob L. White sold 8,000 shares of Marathon Oil stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $26.24, for a total transaction of $209,920.00. Following the transaction, the chief accounting officer now directly owns 32,009 shares in the company, valued at $839,916.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Patrick Wagner sold 34,756 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $25.88, for a total value of $899,485.28. Following the completion of the sale, the insider now owns 167,533 shares in the company, valued at $4,335,754.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,756 shares of company stock valued at $2,397,405. Insiders own 0.42% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have weighed in on MRO. StockNews.com began coverage on Marathon Oil in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Morgan Stanley cut their target price on Marathon Oil from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. The Goldman Sachs Group raised Marathon Oil from a “sell” rating to a “neutral” rating and set a $25.00 price objective on the stock in a research note on Wednesday, July 12th. Mizuho boosted their price objective on Marathon Oil from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 16th. Finally, Susquehanna dropped their price objective on Marathon Oil from $32.00 to $30.00 and set a “positive” rating on the stock in a research note on Friday, July 21st. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.94.
Get Our Latest Report on Marathon Oil
Marathon Oil Stock Performance
Shares of NYSE MRO opened at $27.11 on Monday. The business’s 50-day moving average price is $25.13 and its two-hundred day moving average price is $24.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.80 and a quick ratio of 0.74. Marathon Oil Co. has a one year low of $20.57 and a one year high of $33.42. The company has a market capitalization of $16.42 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.57 and a beta of 2.37.
Marathon Oil (NYSE:MRO – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. Marathon Oil had a return on equity of 18.67% and a net margin of 28.52%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The business’s quarterly revenue was down 34.3% compared to the same quarter last year. Analysts anticipate that Marathon Oil Co. will post 2.43 earnings per share for the current fiscal year.
Marathon Oil Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.48%. Marathon Oil’s dividend payout ratio is currently 12.62%.
Marathon Oil Company Profile
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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