Segment Wealth Management LLC Trims Stake in Marathon Oil Co. (NYSE:MRO)

Segment Wealth Management LLC lessened its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 30.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,840 shares of the oil and gas producer’s stock after selling 4,290 shares during the period. Segment Wealth Management LLC’s holdings in Marathon Oil were worth $262,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC boosted its holdings in Marathon Oil by 4.8% during the 1st quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer’s stock valued at $257,000 after acquiring an additional 415 shares during the period. Gradient Investments LLC lifted its position in shares of 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 worth $655,000 after purchasing an additional 428 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of Marathon Oil by 1.9% during the third quarter. Miracle Mile Advisors LLC now owns 24,084 shares of the oil and gas producer’s stock valued at $641,000 after purchasing an additional 454 shares during the period. Grove Bank & Trust grew its holdings in shares of Marathon Oil by 77.4% in the second quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares during the last quarter. Finally, Founders Capital Management increased its stake 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 worth $29,000 after buying an additional 500 shares during the period. Institutional investors own 77.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MRO shares. UBS Group dropped their target price on shares of Marathon Oil from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. StockNews.com started coverage on Marathon Oil in a research note on Tuesday. They issued a “buy” rating on the stock. Wells Fargo & Company decreased their target price on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Scotiabank increased their price target on Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 10th. Finally, Citigroup decreased their price objective on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Nine 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.12.

Insider Buying and Selling

In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $2,750,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Marathon Oil 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 transaction of $1,430,220.00. Following the sale, the insider now owns 100,000 shares in the company, valued at approximately $2,750,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of the firm’s 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 completion of the transaction, the vice president now owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Marathon Oil Price Performance

Shares of MRO opened at $26.45 on Thursday. The company has a 50 day moving average of $27.49 and a two-hundred day moving average of $27.63. The company has a market cap of $14.92 billion, a price-to-earnings ratio of 10.93 and a beta of 2.16. 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.

Marathon Oil (NYSE:MRO) last announced its 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). 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 for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, analysts predict that Marathon Oil Co. will post 2.52 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Wednesday, August 21st. Marathon Oil’s payout ratio is currently 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.