Northwestern Mutual Wealth Management Co. Cuts Position in Marathon Oil Co. (NYSE:MRO)

Northwestern Mutual Wealth Management Co. lowered its position in Marathon Oil Co. (NYSE:MRO) by 7.5% in the second quarter, Holdings Channel reports. The fund owned 445,040 shares of the oil and gas producer’s stock after selling 36,124 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Marathon Oil were worth $12,759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado increased its holdings in shares of Marathon Oil by 374.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 73,592 shares of the oil and gas producer’s stock valued at $1,778,000 after acquiring an additional 58,081 shares during the last quarter. Blackstone Inc. raised its holdings in Marathon Oil by 23.1% during the fourth quarter. Blackstone Inc. now owns 79,901 shares of the oil and gas producer’s stock worth $1,930,000 after purchasing an additional 15,000 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Marathon Oil during the 4th quarter worth approximately $5,051,000. Quadrature Capital Ltd acquired a new position in shares of Marathon Oil in the 4th quarter valued at $6,837,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Marathon Oil by 19.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 715,772 shares of the oil and gas producer’s stock valued at $20,285,000 after buying an additional 117,061 shares during the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Stock Performance

NYSE MRO opened at $27.64 on Wednesday. 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 business’s 50 day moving average is $27.42 and its two-hundred day moving average is $27.68. The stock has a market capitalization of $15.59 billion, a price-to-earnings ratio of 11.42 and a beta of 2.16. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06.

Marathon Oil (NYSE:MRO) last released 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). The business had revenue of $1.71 billion during 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 company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. Research analysts expect that Marathon Oil Co. will post 2.57 EPS for the current year.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.11 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a yield of 1.59%. Marathon Oil’s dividend payout ratio (DPR) is presently 18.18%.

Insider Transactions at Marathon Oil

In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the company’s 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 owns 100,000 shares of the company’s stock, valued at $2,750,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction that occurred 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 transaction, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction on 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 sale, the insider now owns 100,000 shares in the company, valued at approximately $2,750,000. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MRO shares. Mizuho reduced their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Piper Sandler lifted their price target on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Capital One Financial downgraded Marathon Oil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 5th. Finally, Wells Fargo & Company cut their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.15.

Marathon Oil Company 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.