Point72 DIFC Ltd Buys New Stake in Marathon Oil Co. (NYSE:MRO)

Point72 DIFC Ltd purchased a new stake in shares of Marathon Oil Co. (NYSE:MRO) during the 2nd quarter, HoldingsChannel reports. The fund purchased 232,737 shares of the oil and gas producer’s stock, valued at approximately $6,673,000.

Other hedge funds also recently modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Marathon Oil during the 1st quarter valued at $27,000. Benjamin Edwards Inc. increased its position in shares of Marathon Oil by 226.0% during the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 678 shares during the period. Founders Capital Management increased its position in shares of 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 valued at $29,000 after purchasing an additional 500 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Marathon Oil during the 2nd quarter valued at $29,000. Finally, Fortis Group Advisors LLC increased its position in shares of Marathon Oil by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 618 shares during the period. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction on Friday, September 6th. The stock was 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 directly owns 76,828 shares in the company, valued at $2,090,489.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Marathon Oil news, 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 transaction of $1,033,980.00. Following the transaction, the vice president now directly owns 76,828 shares in the company, valued at $2,090,489.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $1,430,220.00. Following the transaction, the insider now owns 100,000 shares in the company, valued at $2,750,000. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $27.77 on Tuesday. 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 Co. has a 1 year low of $21.81 and a 1 year high of $30.06. The business has a fifty day simple moving average of $27.65 and a 200 day simple moving average of $27.63. The firm has a market cap of $15.66 billion, a price-to-earnings ratio of 11.48 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) 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 firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. Marathon Oil’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts predict that Marathon Oil Co. will post 2.7 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company reissued an “equal weight” rating and set a $29.00 price objective (down from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. StockNews.com initiated coverage on Marathon Oil in a research note on Friday. They set a “buy” rating for the company. Piper Sandler raised 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. Finally, Capital One Financial lowered Marathon Oil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 5th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.