Avantax Advisory Services Inc. lowered its stake in Marathon Oil Co. (NYSE:MRO – Free Report) by 10.9% during the first quarter, Holdings Channel reports. The institutional investor owned 20,291 shares of the oil and gas producer’s stock after selling 2,488 shares during the period. Avantax Advisory Services Inc.’s holdings in Marathon Oil were worth $486,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Marathon Oil in the 4th quarter valued at about $29,000. Brown Brothers Harriman & Co. boosted its holdings in Marathon Oil by 90.6% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 647 shares during the period. Covestor Ltd boosted its holdings in Marathon Oil by 76.6% in the 1st quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 619 shares during the period. Horizon Bancorp Inc. IN bought a new stake in Marathon Oil in the 4th quarter valued at about $37,000. Finally, ST Germain D J Co. Inc. bought a new stake in Marathon Oil in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 78.44% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Marathon Oil from a “sell” rating to a “neutral” rating and set a $25.00 price target for the company in a report on Wednesday, July 12th. Mizuho cut their price target on shares of Marathon Oil from $31.00 to $28.00 in a report on Friday, May 19th. Jefferies Financial Group lowered their price objective on shares of Marathon Oil from $29.00 to $25.00 in a research report on Monday, May 15th. Citigroup upped their price objective on shares of Marathon Oil from $27.00 to $29.00 in a research report on Thursday, July 13th. Finally, Truist Financial lowered their price objective on shares of Marathon Oil from $39.00 to $35.00 in a research report on Monday. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.
Marathon Oil Stock Up 0.5 %
Shares of NYSE MRO opened at $26.11 on Thursday. The firm has a market cap of $16.13 billion, a PE ratio of 6.42, a P/E/G ratio of 0.57 and a beta of 2.35. Marathon Oil Co. has a 12-month low of $20.57 and a 12-month high of $33.42. The company’s fifty day simple moving average is $23.39 and its 200 day simple moving average is $24.51. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.
Marathon Oil (NYSE:MRO – Get Free Report) last issued its 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. The business had revenue of $1.68 billion for 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 prior year, the firm earned $1.02 earnings per share. As a group, sell-side analysts forecast that Marathon Oil Co. will post 2.29 earnings per share for the current fiscal year.
Marathon Oil Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.53%. Marathon Oil’s dividend payout ratio is presently 9.83%.
Marathon Oil Company 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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