Marathon Oil Co. (NYSE:MRO) Position Reduced by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its position in shares of Marathon Oil Co. (NYSE:MRO) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 308,032 shares of the oil and gas producer’s stock after selling 16,185 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Marathon Oil were worth $8,831,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in Marathon Oil during the first quarter worth about $27,000. Benjamin Edwards Inc. grew its stake 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 last quarter. Founders Capital Management raised its holdings in shares of Marathon Oil by 100.0% in the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 500 shares in the last quarter. Fortis Group Advisors LLC lifted its stake in Marathon Oil by 100.0% during the fourth 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. Finally, Manchester Capital Management LLC bought a new stake in Marathon Oil during the fourth quarter worth approximately $31,000. Institutional investors own 77.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MRO. Scotiabank dropped their price target on Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating on the stock in a report on Monday, August 12th. Truist Financial reduced their target price on Marathon Oil from $36.00 to $35.00 and set a “buy” rating for the company in a report on Monday, May 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $29.00 price target (down previously from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. Piper Sandler boosted their price objective on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, UBS Group decreased their target price on shares of Marathon Oil from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.40.

Marathon Oil Stock Down 0.2 %

MRO opened at $27.63 on Thursday. The company has a market capitalization of $15.46 billion, a PE ratio of 11.42 and a beta of 2.19. The business has a 50-day moving average of $27.99 and a 200-day moving average of $26.96. Marathon Oil Co. has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52.

Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. Equities research analysts forecast that Marathon Oil Co. will post 2.77 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Oil’s payout ratio is 18.18%.

About Marathon Oil

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.