Meiji Yasuda Asset Management Co Ltd. Sells 540 Shares of Marathon Oil Co. (NYSE:MRO)

Meiji Yasuda Asset Management Co Ltd. lessened its position in shares of Marathon Oil Co. (NYSE:MRO) by 6.4% in the second quarter, Holdings Channel.com reports. The firm owned 7,950 shares of the oil and gas producer’s stock after selling 540 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Marathon Oil were worth $228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MRO. Mercer Global Advisors Inc. ADV grew its holdings in shares of 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 worth $3,129,000 after buying an additional 1,933 shares in the last quarter. Virtu Financial LLC acquired a new position in Marathon Oil during the 2nd quarter worth approximately $1,231,000. Citizens Financial Group Inc. RI grew its stake in shares of Marathon Oil by 4.4% during 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 acquiring an additional 1,154 shares in the last quarter. Total Clarity Wealth Management Inc. acquired a new stake in shares of Marathon Oil in the second quarter valued at approximately $1,471,000. Finally, Menard Financial Group LLC lifted its position in shares of Marathon Oil by 28.5% in the second quarter. Menard Financial Group LLC now owns 14,735 shares of the oil and gas producer’s stock worth $422,000 after purchasing an additional 3,264 shares in the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Stock Performance

Shares of MRO stock opened at $27.93 on Friday. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 11.54 and a beta of 2.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.57. Marathon Oil Co. has a 52 week low of $21.81 and a 52 week high of $30.06. The company has a 50-day simple moving average of $27.67 and a 200 day simple moving average of $27.58.

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 firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. Marathon Oil’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. On average, sell-side analysts predict that Marathon Oil Co. will post 2.7 earnings per share for the current year.

Marathon Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.58%. The ex-dividend date was Wednesday, August 21st. Marathon Oil’s payout ratio is 18.18%.

Insider Transactions at Marathon Oil

In related news, insider Dane E. Whitehead sold 52,008 shares of the firm’s stock in a transaction dated 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 directly owns 100,000 shares of the company’s stock, valued at $2,750,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the sale, the insider now directly owns 100,000 shares in the company, valued at $2,750,000. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $27.21, for a total value of $1,033,980.00. Following the sale, the vice president now owns 76,828 shares of the company’s stock, valued at $2,090,489.88. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MRO shares. Citigroup lowered their price target on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. StockNews.com initiated coverage on Marathon Oil in a research report on Friday. They issued a “buy” rating on the stock. Scotiabank reduced their price target on Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. decreased 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 upped their price objective on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Oil currently has an average rating of “Moderate Buy” and a consensus target price of $31.65.

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.