Ballentine Partners LLC Reduces Stock Holdings in Marathon Oil Co. (NYSE:MRO)

Posted by on Jul 17th, 2023

Ballentine Partners LLC lessened its stake in Marathon Oil Co. (NYSE:MRO – Free Report) by 18.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,510 shares of the oil and gas producer’s stock after selling 2,399 shares during the quarter. Ballentine Partners LLC’s holdings in Marathon Oil were worth $252,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Marathon Oil during the 4th quarter valued at $29,000. Brown Brothers Harriman & Co. grew its stake in shares of Marathon Oil by 90.6% during the first quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 647 shares in the last quarter. Covestor Ltd increased its position in shares of Marathon Oil by 76.6% during the first quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 619 shares during the last quarter. Horizon Bancorp Inc. IN acquired a new position in shares of Marathon Oil in the fourth quarter worth about $37,000. Finally, ST Germain D J Co. Inc. purchased a new position in Marathon Oil in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 78.44% of the company’s stock.

Marathon Oil Stock Down 4.2 %

MRO stock opened at $24.08 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $23.11 and its 200 day simple moving average is $24.56. The stock has a market cap of $14.87 billion, a PE ratio of 5.92, a price-to-earnings-growth ratio of 0.49 and a beta of 2.35. Marathon Oil Co. has a fifty-two week low of $20.37 and a fifty-two week high of $33.42.

Marathon Oil (NYSE:MRO – Get Free Report) last released its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. Marathon Oil had a return on equity of 24.17% and a net margin of 34.22%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the business posted $1.02 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Marathon Oil Co. will post 2.48 EPS for the current year.

Marathon Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Wednesday, May 17th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Tuesday, May 16th. Marathon Oil’s payout ratio is currently 9.83%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MRO. Raymond James lifted their price objective on Marathon Oil from $43.00 to $48.00 and gave the stock a “strong-buy” rating in a report on Friday, April 21st. Piper Sandler cut their price target on shares of Marathon Oil from $35.00 to $32.00 in a report on Tuesday, June 13th. Susquehanna decreased their price objective on shares of Marathon Oil from $35.00 to $32.00 and set a “positive” rating for the company in a report on Friday, April 21st. Truist Financial upped their target price on shares of Marathon Oil from $34.00 to $39.00 in a research note on Tuesday, April 11th. Finally, Stifel Nicolaus lifted their price target on Marathon Oil from $37.00 to $38.00 in a research note on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Oil presently has an average rating of “Moderate Buy” and a consensus target price of $32.29.

About Marathon Oil

(Free Report)

Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

See Also

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

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