Rockefeller Capital Management L.P. Decreases Stock Position in Marathon Oil Co. (NYSE:MRO)

Rockefeller Capital Management L.P. reduced its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,871 shares of the oil and gas producer’s stock after selling 1,879 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Marathon Oil were worth $424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. grew its stake in shares of Marathon Oil by 10.2% in the third quarter. Pacer Advisors Inc. now owns 14,727,190 shares of the oil and gas producer’s stock worth $392,185,000 after purchasing an additional 1,357,369 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Marathon Oil by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,461,323 shares of the oil and gas producer’s stock worth $242,582,000 after acquiring an additional 328,184 shares in the last quarter. LSV Asset Management lifted its stake in Marathon Oil by 10.1% in the 2nd quarter. LSV Asset Management now owns 6,443,713 shares of the oil and gas producer’s stock worth $184,741,000 after acquiring an additional 593,100 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Marathon Oil by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,267,506 shares of the oil and gas producer’s stock worth $140,274,000 after purchasing an additional 19,566 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Marathon Oil by 6.3% during the 3rd quarter. Fisher Asset Management LLC now owns 2,884,151 shares of the oil and gas producer’s stock worth $76,805,000 after purchasing an additional 171,450 shares in the last quarter. 77.24% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $28.55 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.69. Marathon Oil Co. has a 52-week low of $21.81 and a 52-week high of $30.06. The company has a market capitalization of $15.97 billion, a PE ratio of 12.25 and a beta of 2.16. The company has a fifty day moving average of $27.93 and a 200-day moving average of $27.81.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. Marathon Oil’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, equities analysts predict that Marathon Oil Co. will post 2.34 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued a $0.11 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.54%. Marathon Oil’s dividend payout ratio is presently 18.88%.

Wall Street Analysts Forecast Growth

MRO has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Truist Financial cut their target price on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Citigroup cut their price objective on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. StockNews.com began coverage on Marathon Oil in a research report on Monday. They set a “buy” rating for the company. Finally, Mizuho decreased their price objective 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. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Marathon Oil presently has a consensus rating of “Moderate Buy” and an average target price of $30.94.

Insider Buying and Selling

In other news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $2,750,000. The trade was a 34.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lee M. Tillman sold 256,591 shares of Marathon Oil stock in a transaction on Monday, November 18th. The stock was sold at an average price of $29.07, for a total transaction of $7,459,100.37. Following the completion of the transaction, the chief executive officer now owns 596,330 shares in the company, valued at approximately $17,335,313.10. The trade was a 30.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 344,693 shares of company stock worth $9,930,271. 0.35% of the stock is owned by company insiders.

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.