New York State Teachers Retirement System Has $22.62 Million Holdings in Marathon Oil Co. (NYSE:MRO)

Posted by Defense World Staff on Apr 12th, 2023

New York State Teachers Retirement System decreased its position in Marathon Oil Co. (NYSE:MRO – Get Rating) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 835,652 shares of the oil and gas producer’s stock after selling 91,072 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of Marathon Oil worth $22,621,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in Marathon Oil by 39.9% during the third quarter. Jones Financial Companies Lllp now owns 1,379 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 393 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Marathon Oil by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,692 shares of the oil and gas producer’s stock worth $1,372,000 after buying an additional 413 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Marathon Oil by 2.4% during the third quarter. Raymond James Trust N.A. now owns 17,737 shares of the oil and gas producer’s stock worth $401,000 after buying an additional 423 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Marathon Oil by 12.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,160 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 446 shares in the last quarter. Finally, Quent Capital LLC increased its holdings in shares of Marathon Oil by 11.6% during the fourth quarter. Quent Capital LLC now owns 4,424 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 459 shares in the last quarter. Institutional investors and hedge funds own 77.30% of the company’s stock.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, CAO Rob L. White sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $22.85, for a total transaction of $114,250.00. Following the transaction, the chief accounting officer now owns 39,344 shares in the company, valued at approximately $899,010.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MRO has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on Marathon Oil from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, March 27th. Evercore ISI initiated coverage on Marathon Oil in a report on Thursday, January 5th. They issued an “outperform” rating for the company. Mizuho restated a “neutral” rating and issued a $32.00 price objective on shares of Marathon Oil in a report on Tuesday, January 10th. StockNews.com began coverage on Marathon Oil in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Piper Sandler lowered their price objective 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.88.

Marathon Oil Stock Performance

Marathon Oil stock opened at $26.11 on Wednesday. The company’s 50-day moving average price is $24.96 and its 200-day moving average price is $27.06. Marathon Oil Co. has a twelve month low of $19.42 and a twelve month high of $33.42. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.48. The company has a market cap of $16.44 billion, a PE ratio of 5.03, a price-to-earnings-growth ratio of 0.36 and a beta of 2.39.

Marathon Oil (NYSE:MRO – Get Rating) last released 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 net margin of 44.95% and a return on equity of 27.07%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $0.77 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that Marathon Oil Co. will post 3.11 EPS for the current fiscal year.

Marathon Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Wednesday, February 15th were paid a dividend of $0.10 per share. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, February 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.53%. Marathon Oil’s dividend payout ratio is presently 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.