Marathon Oil Co. (NYSE:MRO) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC boosted its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 19.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,800 shares of the oil and gas producer’s stock after buying an additional 1,724 shares during the period. Resonant Capital Advisors LLC’s holdings in Marathon Oil were worth $310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRO. Natixis Advisors LLC increased its holdings in shares of Marathon Oil by 1.1% during the second quarter. Natixis Advisors LLC now owns 364,802 shares of the oil and gas producer’s stock valued at $10,459,000 after acquiring an additional 4,014 shares in the last quarter. Pentwater Capital Management LP acquired a new position in shares of Marathon Oil in the 2nd quarter valued at $30,104,000. Hi Line Capital Management LLC increased its holdings in shares of Marathon Oil by 61.0% in the second quarter. Hi Line Capital Management LLC now owns 58,151 shares of the oil and gas producer’s stock valued at $1,667,000 after purchasing an additional 22,036 shares during the period. Picton Mahoney Asset Management acquired a new position in Marathon Oil in the 2nd quarter worth approximately $24,399,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Marathon Oil by 59.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 11,644 shares of the oil and gas producer’s stock valued at $334,000 after acquiring an additional 4,325 shares during the last quarter. 77.24% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Oil Trading Down 0.7 %

MRO stock opened at $28.65 on Tuesday. The business’s 50-day moving average is $28.11 and its 200 day moving average is $27.28. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06. The stock has a market cap of $16.16 billion, a price-to-earnings ratio of 11.84 and a beta of 2.19. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41.

Marathon Oil (NYSE:MRO) last released 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 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%. Marathon Oil’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 EPS. On average, sell-side analysts anticipate that Marathon Oil Co. will post 2.76 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Oil’s payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MRO. Capital One Financial lowered shares of Marathon Oil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 5th. Piper Sandler raised their target price on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Wells Fargo & Company reissued an “equal weight” rating and issued a $29.00 price target (down from $38.00) on shares of Marathon Oil in a report on Friday, May 31st. StockNews.com began coverage on Marathon Oil in a research report on Tuesday, August 27th. They issued a “buy” rating on the stock. Finally, Mizuho lifted their target price on shares of Marathon Oil from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.40.

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.