Evergreen Capital Management LLC Invests $290,000 in Marathon Oil Co. (NYSE:MRO)

Evergreen Capital Management LLC purchased a new position in shares of Marathon Oil Co. (NYSE:MRO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,102 shares of the oil and gas producer’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Riverview Trust Co bought a new stake in shares of Marathon Oil during the first quarter worth $27,000. Benjamin Edwards Inc. grew its holdings in Marathon Oil by 226.0% during the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 678 shares during the last quarter. Founders Capital Management increased its position in 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 valued at $29,000 after acquiring an additional 500 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Marathon Oil in the second quarter worth about $29,000. Finally, Fortis Group Advisors LLC raised its stake in shares of Marathon Oil by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 618 shares during the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marathon Oil

In other news, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the sale, the vice president now owns 76,828 shares of the company’s stock, valued at $2,090,489.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction dated 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 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 accessible through the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $27.21, for a total value of $1,033,980.00. Following the transaction, 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.

Marathon Oil Trading Up 2.4 %

Shares of NYSE MRO opened at $26.49 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The company’s fifty day moving average is $27.51 and its 200-day moving average is $27.63. The stock has a market cap of $14.82 billion, a price-to-earnings ratio of 10.95 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The business 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%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Equities research analysts predict that Marathon Oil Co. will post 2.57 EPS for the current year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid 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 yield of 1.66%. Marathon Oil’s payout ratio is 18.18%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MRO shares. StockNews.com initiated coverage on shares of Marathon Oil in a report on Saturday. They issued a “buy” rating for the company. JPMorgan Chase & Co. lowered their target price 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. Piper Sandler upped their price target on Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Susquehanna lowered their price objective on Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Capital One Financial downgraded shares of Marathon Oil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 5th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.74.

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.