Pictet Asset Management SA Purchases 31,850 Shares of Marathon Oil Co. (NYSE:MRO)

Posted by on Feb 24th, 2023

Pictet Asset Management SA lifted its holdings in Marathon Oil Co. (NYSE:MRO – Get Rating) by 9.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 354,580 shares of the oil and gas producer’s stock after buying an additional 31,850 shares during the quarter. Pictet Asset Management SA owned approximately 0.06% of Marathon Oil worth $8,006,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its stake in Marathon Oil by 9.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,163 shares of the oil and gas producer’s stock valued at $342,000 after acquiring an additional 1,338 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in Marathon Oil during the 3rd quarter valued at approximately $325,000. Hiddenite Capital Partners LP grew its holdings in shares of Marathon Oil by 100.0% in the third quarter. Hiddenite Capital Partners LP now owns 150,000 shares of the oil and gas producer’s stock valued at $3,387,000 after purchasing an additional 75,000 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Marathon Oil by 34.7% in the third quarter. Envestnet Asset Management Inc. now owns 741,349 shares of the oil and gas producer’s stock valued at $16,740,000 after purchasing an additional 191,106 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Marathon Oil in the third quarter valued at $1,645,000. 77.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James lifted their target price on Marathon Oil from $37.00 to $48.00 and gave the stock a “strong-buy” rating in a research report on Monday, November 28th. Morgan Stanley upgraded Marathon Oil from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $27.00 to $28.00 in a research report on Tuesday, January 24th. Wells Fargo & Company decreased their price target on Marathon Oil from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday. Royal Bank of Canada upped their target price on Marathon Oil from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, November 7th. Finally, The Goldman Sachs Group upped their target price on Marathon Oil from $27.00 to $30.00 and gave the stock a “sell” rating in a research note on Wednesday, November 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Oil has a consensus rating of “Moderate Buy” and a consensus target price of $33.88.

Marathon Oil Stock Up 1.5 %

MRO opened at $25.48 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.67 and a current ratio of 0.72. Marathon Oil Co. has a one year low of $19.42 and a one year high of $33.42. The business’s fifty day moving average is $26.87 and its two-hundred day moving average is $27.21. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 4.91, a PEG ratio of 0.30 and a beta of 2.40.

Marathon Oil (NYSE:MRO – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.08. Marathon Oil had a return on equity of 27.07% and a net margin of 44.95%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business earned $0.77 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. Analysts anticipate that Marathon Oil Co. will post 3.66 EPS for the current fiscal year.

Marathon Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Wednesday, February 15th will be given a $0.10 dividend. This is an increase from Marathon Oil’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, February 14th. Marathon Oil’s dividend payout ratio is currently 7.71%.

Marathon Oil Company Profile

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Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S.

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Institutional Ownership by Quarter for Marathon Oil (NYSE:MRO)

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