Marathon Oil Co. (NYSE:MRO) Shares Sold by Seeyond

Posted by Defense World Staff on Jun 10th, 2023

Seeyond lessened its stake in Marathon Oil Co. (NYSE:MRO – Get Rating) by 90.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,011 shares of the oil and gas producer’s stock after selling 28,761 shares during the quarter. Seeyond’s holdings in Marathon Oil were worth $82,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Marathon Oil by 1,220.4% during the 1st quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock valued at $219,828,000 after acquiring an additional 8,091,570 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Marathon Oil by 60.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,739,802 shares of the oil and gas producer’s stock worth $194,346,000 after buying an additional 2,904,140 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Marathon Oil by 3,527.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,735,575 shares of the oil and gas producer’s stock worth $68,690,000 after buying an additional 2,660,158 shares during the period. Pacer Advisors Inc. increased its stake in Marathon Oil by 67.8% during the 4th quarter. Pacer Advisors Inc. now owns 6,370,124 shares of the oil and gas producer’s stock worth $172,439,000 after buying an additional 2,574,395 shares during the period. Finally, First Trust Advisors LP increased its stake in Marathon Oil by 35.3% during the 1st quarter. First Trust Advisors LP now owns 7,026,775 shares of the oil and gas producer’s stock worth $176,442,000 after buying an additional 1,835,182 shares during the period. Institutional investors and hedge funds own 77.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MRO. UBS Group began coverage on shares of Marathon Oil in a research note on Wednesday, April 19th. They set a “buy” rating and a $33.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of Marathon Oil from $24.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, April 21st. Mizuho dropped their target price on shares of Marathon Oil from $31.00 to $28.00 in a research report on Friday, May 19th. Truist Financial boosted their target price on shares of Marathon Oil from $34.00 to $39.00 in a research report on Tuesday, April 11th. Finally, Raymond James boosted their target price on shares of Marathon Oil from $43.00 to $48.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 21st. Three research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Oil currently has an average rating of “Moderate Buy” and a consensus price target of $33.06.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, CAO Rob L. White sold 5,000 shares of the business’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $22.85, for a total transaction of $114,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,344 shares of the company’s stock, valued at approximately $899,010.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

Marathon Oil Trading Down 1.6 %

NYSE MRO opened at $23.56 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.75. The company has a 50-day simple moving average of $23.80 and a 200-day simple moving average of $25.51. The firm has a market capitalization of $14.55 billion, a PE ratio of 5.79, a price-to-earnings-growth ratio of 0.45 and a beta of 2.39. Marathon Oil Co. has a one year low of $19.42 and a one year high of $33.42.

Marathon Oil (NYSE:MRO – Get Rating) last posted its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. Marathon Oil had a net margin of 34.22% and a return on equity of 24.17%. Marathon Oil’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS. On average, equities analysts forecast that Marathon Oil Co. will post 2.71 earnings per share for the current year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Wednesday, May 17th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Tuesday, May 16th. Marathon Oil’s payout ratio is 9.83%.

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.