PNC Financial Services Group Inc. Sells 7,252 Shares of Marathon Oil Co. (NYSE:MRO)

PNC Financial Services Group Inc. lessened its holdings in Marathon Oil Co. (NYSE:MRO) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 203,912 shares of the oil and gas producer’s stock after selling 7,252 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Marathon Oil were worth $4,927,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Marathon Oil in the fourth quarter valued at about $3,866,000. Hennessy Advisors Inc. bought a new stake in shares of Marathon Oil in the fourth quarter valued at about $623,000. Wahed Invest LLC boosted its position in shares of Marathon Oil by 4.2% in the fourth quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer’s stock valued at $249,000 after acquiring an additional 419 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of Marathon Oil in the fourth quarter valued at about $37,000. Finally, Fisher Asset Management LLC boosted its position in shares of Marathon Oil by 0.9% in the fourth quarter. Fisher Asset Management LLC now owns 1,865,033 shares of the oil and gas producer’s stock valued at $45,059,000 after acquiring an additional 16,300 shares during the period. Institutional investors own 77.24% of the company’s stock.

Insiders Place Their Bets

In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total transaction of $997,999.10. Following the transaction, the insider now directly owns 140,829 shares in the company, valued at approximately $3,893,921.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Michael A. Henderson sold 51,389 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $27.59, for a total value of $1,417,822.51. Following the transaction, the vice president now directly owns 114,828 shares in the company, valued at approximately $3,168,104.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrick Wagner sold 36,094 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total value of $997,999.10. Following the completion of the transaction, the insider now owns 140,829 shares in the company, valued at $3,893,921.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,716 shares of company stock worth $4,397,507. Corporate insiders own 0.35% of the company’s stock.

Marathon Oil Stock Performance

Marathon Oil stock opened at $27.32 on Wednesday. The business has a 50 day moving average of $27.37 and a 200-day moving average of $25.57. Marathon Oil Co. has a 1 year low of $21.81 and a 1 year high of $30.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.55 and a quick ratio of 0.48. The company has a market capitalization of $15.41 billion, a P/E ratio of 11.29 and a beta of 2.17.

Marathon Oil (NYSE:MRO) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts predict that Marathon Oil Co. will post 2.83 earnings per share for the current year.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.61%. The ex-dividend date was Tuesday, May 14th. Marathon Oil’s payout ratio is presently 18.18%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $32.00 price objective on shares of Marathon Oil in a research report on Friday, May 3rd. Scotiabank upped their price objective on shares of Marathon Oil from $35.00 to $45.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group upped their price objective on shares of Marathon Oil from $26.50 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Truist Financial cut their price objective on shares of Marathon Oil from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Marathon Oil in a research report on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.86.

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.