Marathon Oil Co. (NYSE:MRO) Holdings Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its holdings in Marathon Oil Co. (NYSE:MRO) by 14.4% in the 2nd quarter, Holdings Channel reports. The fund owned 1,173,153 shares of the oil and gas producer’s stock after selling 197,853 shares during the period. Hsbc Holdings PLC’s holdings in Marathon Oil were worth $33,695,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Marathon Oil by 20.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 150,039 shares of the oil and gas producer’s stock valued at $4,287,000 after purchasing an additional 25,607 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Marathon Oil by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 109,136 shares of the oil and gas producer’s stock valued at $3,129,000 after purchasing an additional 1,933 shares in the last quarter. Virtu Financial LLC acquired a new position in Marathon Oil in the 2nd quarter valued at approximately $1,231,000. Citizens Financial Group Inc. RI lifted its position in Marathon Oil by 4.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 27,364 shares of the oil and gas producer’s stock worth $785,000 after buying an additional 1,154 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of Marathon Oil during the 2nd quarter valued at $1,471,000. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the transaction, the insider now owns 100,000 shares of the company’s stock, valued at $2,750,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction dated 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 of the company’s stock, valued at $2,090,489.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the transaction, the insider now owns 100,000 shares in the company, valued at $2,750,000. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MRO has been the topic of a number of research reports. Scotiabank dropped their price target on shares of Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Citigroup dropped their target price on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company reiterated an “equal weight” rating and set a $29.00 price target (down from $38.00) on shares of Marathon Oil in a report on Friday, May 31st. JPMorgan Chase & Co. lowered their price target on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Piper Sandler raised their price objective on shares of Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Oil presently has a consensus rating of “Moderate Buy” and an average target price of $31.65.

Marathon Oil Stock Performance

Shares of MRO opened at $27.93 on Friday. The company has a market capitalization of $15.75 billion, a PE ratio of 11.54 and a beta of 2.16. 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 Co. has a one year low of $21.81 and a one year high of $30.06. The company’s fifty day moving average price is $27.67 and its 200 day moving average price is $27.56.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts expect that Marathon Oil Co. will post 2.7 earnings per share for the current year.

Marathon Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.58%. Marathon Oil’s dividend payout ratio (DPR) is presently 18.18%.

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.