Geneos Wealth Management Inc. boosted its holdings in shares of Marathon Oil Co. (NYSE:MRO – Free Report) by 60.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,689 shares of the oil and gas producer’s stock after acquiring an additional 2,882 shares during the period. Geneos Wealth Management Inc.’s holdings in Marathon Oil were worth $184,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRO. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Marathon Oil during the fourth quarter worth about $29,000. Brown Brothers Harriman & Co. raised its position in shares of Marathon Oil by 90.6% in 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 buying an additional 647 shares during the last quarter. Covestor Ltd raised its position in shares of Marathon Oil by 76.6% in the first quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock valued at $36,000 after buying 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 valued at approximately $37,000. Finally, ST Germain D J Co. Inc. acquired a new position in shares of Marathon Oil in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 78.44% of the company’s stock.
Marathon Oil Price Performance
MRO opened at $24.08 on Friday. The company has a 50 day moving average of $23.11 and a two-hundred day moving average of $24.60. Marathon Oil Co. has a 52-week low of $20.37 and a 52-week high of $33.42. 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 company has a market cap of $14.87 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.51 and a beta of 2.35.
Marathon Oil (NYSE:MRO – Get Free Report) last posted its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Marathon Oil had a net margin of 34.22% and a return on equity of 24.17%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company posted $1.02 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts expect that Marathon Oil Co. will post 2.49 earnings per share for the current year.
Marathon Oil Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Wednesday, May 17th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.66%. Marathon Oil’s payout ratio is currently 9.83%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on MRO shares. Piper Sandler cut their price objective on shares of Marathon Oil from $35.00 to $32.00 in a research report on Tuesday, June 13th. Stifel Nicolaus boosted their price objective on shares of Marathon Oil from $37.00 to $38.00 in a research report on Tuesday, May 23rd. Truist Financial boosted their target price on shares of Marathon Oil from $34.00 to $39.00 in a report on Tuesday, April 11th. Citigroup boosted their target price on shares of Marathon Oil from $27.00 to $29.00 in a report on Thursday. Finally, Benchmark lowered their target price on shares of Marathon Oil from $32.00 to $28.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned 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, Marathon Oil currently has a consensus rating of “Moderate Buy” and an average target price of $32.29.
Marathon Oil Profile
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.
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