Marathon Oil Co. (NYSE:MRO) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC grew its position in Marathon Oil Co. (NYSE:MRO) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,498 shares of the oil and gas producer’s stock after acquiring an additional 14,414 shares during the quarter. ProShare Advisors LLC’s holdings in Marathon Oil were worth $3,856,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MRO. Riverview Trust Co purchased a new position in Marathon Oil in the 1st quarter valued at $27,000. Benjamin Edwards Inc. lifted its stake in shares of Marathon Oil by 226.0% in the first quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 678 shares in the last quarter. Founders Capital Management lifted its stake in shares of Marathon Oil by 100.0% in the second 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 in the last quarter. Highbridge Capital Management LLC acquired a new position in Marathon Oil during the second quarter worth about $29,000. Finally, Fortis Group Advisors LLC grew its stake in 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 acquiring an additional 618 shares in the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction on 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 legal filing with the SEC, which can be accessed through this hyperlink. In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the company’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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction dated Friday, September 6th. The shares were 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 disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

MRO has been the topic of several recent research reports. Wells Fargo & Company restated an “equal weight” rating and set a $29.00 target price (down from $38.00) on shares of Marathon Oil in a report on Friday, May 31st. Piper Sandler boosted 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. Mizuho cut their target price on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Susquehanna lowered their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Finally, Capital One Financial lowered shares of Marathon Oil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 5th. Nine equities research 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.65.

Marathon Oil Trading Down 3.3 %

Shares of NYSE MRO opened at $25.87 on Friday. The stock has a fifty day simple moving average of $27.57 and a 200-day simple moving average of $27.64. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $14.47 billion, a PE ratio of 10.69 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). 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 company earned $0.48 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Marathon Oil Co. will post 2.57 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 given a $0.11 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 annualized dividend and a yield of 1.70%. Marathon Oil’s dividend payout ratio is presently 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.