Mediolanum International Funds Ltd Cuts Stock Position in Marathon Oil Co. (NYSE:MRO)

Mediolanum International Funds Ltd lessened its stake in Marathon Oil Co. (NYSE:MRO) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,832 shares of the oil and gas producer’s stock after selling 955 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Marathon Oil were worth $974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MRO. HWG Holdings LP purchased a new stake in Marathon Oil in the 2nd quarter worth $26,000. Founders Capital Management boosted its stake in Marathon Oil by 100.0% during the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 500 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Marathon Oil during the 2nd quarter worth $29,000. Grove Bank & Trust boosted its stake in Marathon Oil by 77.4% during the 2nd 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, Hilltop National Bank boosted its stake in Marathon Oil by 89.5% during the 2nd quarter. Hilltop National Bank now owns 1,620 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 765 shares during the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Marathon Oil Trading Up 0.2 %

NYSE MRO opened at $26.46 on Monday. The firm’s 50-day moving average is $27.42 and its two-hundred day moving average is $27.59. Marathon Oil Co. has a 12 month low of $21.81 and a 12 month high of $30.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. The stock has a market capitalization of $14.92 billion, a P/E ratio of 10.93 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. On average, sell-side analysts anticipate that Marathon Oil Co. will post 2.43 earnings per share for the current year.

Marathon Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a yield of 1.66%. Marathon Oil’s dividend payout ratio (DPR) is presently 18.18%.

Insiders Place Their Bets

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 shares were sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the sale, the insider now directly owns 100,000 shares in the company, valued at $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of the company’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 transaction of $1,430,220.00. Following the sale, the insider now owns 100,000 shares in the company, valued at $2,750,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MRO shares. Citigroup lowered their target price 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. JPMorgan Chase & Co. lowered their target price on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Truist Financial lowered their target price on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Barclays lowered their target price on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Scotiabank boosted their price target on shares of Marathon Oil from $27.61 to $28.00 and gave the company a “sector perform” rating in a research report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.12.

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.