Raymond James Trust N.A. Decreases Stock Position in Marathon Oil Co. (NYSE:MRO)

Raymond James Trust N.A. lessened its stake in shares of Marathon Oil Co. (NYSE:MRO) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,738 shares of the oil and gas producer’s stock after selling 1,113 shares during the period. Raymond James Trust N.A.’s holdings in Marathon Oil were worth $451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Park Avenue Securities LLC boosted its position in Marathon Oil by 4.8% during the first quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer’s stock valued at $257,000 after purchasing an additional 415 shares in the last quarter. Wahed Invest LLC boosted its position in Marathon Oil by 4.2% during the fourth quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer’s stock valued at $249,000 after purchasing an additional 419 shares in the last quarter. Gradient Investments LLC boosted its position in Marathon Oil by 1.9% during the second quarter. Gradient Investments LLC now owns 22,829 shares of the oil and gas producer’s stock valued at $655,000 after purchasing an additional 428 shares in the last quarter. Trueblood Wealth Management LLC boosted its position in Marathon Oil by 4.8% during the first quarter. Trueblood Wealth Management LLC now owns 9,559 shares of the oil and gas producer’s stock valued at $271,000 after purchasing an additional 439 shares in the last quarter. Finally, Argent Capital Management LLC boosted its position in Marathon Oil by 0.5% during the first quarter. Argent Capital Management LLC now owns 87,563 shares of the oil and gas producer’s stock valued at $2,482,000 after purchasing an additional 441 shares in the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Marathon Oil Trading Down 0.9 %

Shares of NYSE:MRO opened at $28.33 on Wednesday. The business has a 50-day moving average price of $28.05 and a 200-day moving average price of $27.15. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 11.71 and a beta of 2.19. Marathon Oil Co. has a 52-week low of $21.81 and a 52-week high of $30.06.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share 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 revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. Equities analysts predict that Marathon Oil Co. will post 2.77 EPS for the current year.

Marathon Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 1.55%. The ex-dividend date is Wednesday, August 21st. Marathon Oil’s dividend payout ratio is currently 18.18%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MRO. Piper Sandler raised their price objective on Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Capital One Financial downgraded Marathon Oil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 5th. Mizuho increased their price target on Marathon Oil from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Scotiabank decreased their price target on Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $29.00 price target (down from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.40.

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.