Commonwealth Equity Services LLC increased its holdings in Marathon Oil Co. (NYSE:MRO – Get Rating) by 12.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,375 shares of the oil and gas producer’s stock after acquiring an additional 20,542 shares during the period. Commonwealth Equity Services LLC’s holdings in Marathon Oil were worth $4,208,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Gulf International Bank UK Ltd increased its position in shares of Marathon Oil by 3.1% during the 3rd quarter. Gulf International Bank UK Ltd now owns 125,500 shares of the oil and gas producer’s stock valued at $2,833,000 after purchasing an additional 3,800 shares during the last quarter. Empowered Funds LLC raised its position in Marathon Oil by 432.2% in the third quarter. Empowered Funds LLC now owns 368,708 shares of the oil and gas producer’s stock worth $8,326,000 after acquiring an additional 299,429 shares during the period. Point72 Asset Management L.P. boosted its stake in Marathon Oil by 9.6% in the second quarter. Point72 Asset Management L.P. now owns 2,474,556 shares of the oil and gas producer’s stock valued at $55,628,000 after acquiring an additional 215,818 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Marathon Oil during the 2nd quarter valued at approximately $1,874,000. Finally, Navellier & Associates Inc. increased its stake in shares of Marathon Oil by 0.5% during the 2nd quarter. Navellier & Associates Inc. now owns 238,316 shares of the oil and gas producer’s stock worth $5,357,000 after purchasing an additional 1,123 shares during the last quarter. 77.30% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on MRO shares. Piper Sandler decreased their target price on Marathon Oil from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, January 13th. Barclays increased their target price on shares of Marathon Oil from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 7th. Wells Fargo & Company lowered their price target on shares of Marathon Oil from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 21st. Mizuho reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Marathon Oil in a report on Tuesday, January 10th. Finally, Benchmark raised shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Thursday, February 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.88.
Marathon Oil Stock Down 1.1 %
Marathon Oil (NYSE:MRO – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The oil and gas producer reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. Marathon Oil had a net margin of 44.95% and a return on equity of 27.07%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Sell-side analysts predict that Marathon Oil Co. will post 3.63 EPS for the current fiscal year.
Marathon Oil Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Wednesday, February 15th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $0.40 annualized dividend and a yield of 1.58%. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.09. Marathon Oil’s payout ratio is 7.71%.
Marathon Oil Profile
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Marathon Oil (MRO)
- Are Korn Ferry’s Results a Canary in the Employment Coal Mine?
- META Platforms May See its Biggest Opening Yet for New Highs
- Penny Stock Vinco Ventures Could Be Big Winner
- Is Chip Design Specialist Synopsys A Gem Hiding In Plain Sight?
- Should You Park Some Capital with Casey’s General Stores?
Want to see what other hedge funds are holding MRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Oil Co. (NYSE:MRO – Get Rating).
Receive News & Ratings for Marathon Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Oil and related companies with MarketBeat.com's FREE daily email newsletter.
