Mackenzie Financial Corp Sells 380,895 Shares of Marathon Oil Co. (NYSE:MRO)

Mackenzie Financial Corp trimmed its holdings in Marathon Oil Co. (NYSE:MRO) by 88.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 48,269 shares of the oil and gas producer’s stock after selling 380,895 shares during the quarter. Mackenzie Financial Corp’s holdings in Marathon Oil were worth $1,384,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Marathon Oil by 27.7% in the second quarter. The Manufacturers Life Insurance Company now owns 490,383 shares of the oil and gas producer’s stock worth $14,059,000 after purchasing an additional 106,461 shares during the last quarter. MBB Public Markets I LLC bought a new stake in shares of Marathon Oil in the 2nd quarter valued at about $1,264,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Marathon Oil during the 2nd quarter valued at about $1,323,000. Squarepoint Ops LLC grew its position in Marathon Oil by 239.9% during the 2nd quarter. Squarepoint Ops LLC now owns 238,393 shares of the oil and gas producer’s stock worth $6,835,000 after acquiring an additional 168,266 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Marathon Oil by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 110,555 shares of the oil and gas producer’s stock worth $3,170,000 after purchasing an additional 40,680 shares during the period. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Insider Activity

In related news, VP Michael A. Henderson sold 38,000 shares of the company’s 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 transaction, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Michael A. Henderson sold 38,000 shares of the business’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 value 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 document filed with the SEC, which is available through this hyperlink. 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 $2,750,000. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MRO. Citigroup dropped their price objective on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Barclays cut their price target on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday. Mizuho lowered their price objective on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Piper Sandler raised their target price 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, Scotiabank lowered their price target on Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Nine research 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 company’s stock. Based on data from MarketBeat.com, Marathon Oil has an average rating of “Moderate Buy” and a consensus target price of $31.09.

Marathon Oil Stock Up 2.0 %

NYSE:MRO opened at $28.54 on Friday. Marathon Oil Co. has a 1-year low of $21.81 and a 1-year high of $30.06. The company has a market capitalization of $16.10 billion, a PE ratio of 11.79 and a beta of 2.16. The firm’s 50-day moving average price is $27.44 and its 200-day moving average price is $27.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52.

Marathon Oil (NYSE:MRO) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the business posted $0.48 EPS. Marathon Oil’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts predict that Marathon Oil Co. will post 2.57 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a $0.11 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.54%. Marathon Oil’s dividend payout ratio is currently 18.18%.

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.