Strategy Asset Managers LLC Sells 42,055 Shares of Marathon Oil Co. (NYSE:MRO)

Posted by on Jun 23rd, 2022

Strategy Asset Managers LLC trimmed its stake in Marathon Oil Co. (NYSE:MRO – Get Rating) by 79.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,005 shares of the oil and gas producer’s stock after selling 42,055 shares during the quarter. Strategy Asset Managers LLC’s holdings in Marathon Oil were worth $276,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Diversified Trust Co grew its holdings in shares of Marathon Oil by 24.8% during the first quarter. Diversified Trust Co now owns 13,313 shares of the oil and gas producer’s stock valued at $334,000 after buying an additional 2,649 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Marathon Oil by 131.0% during the first quarter. Pacer Advisors Inc. now owns 2,057,673 shares of the oil and gas producer’s stock valued at $51,668,000 after purchasing an additional 1,166,774 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Marathon Oil during the first quarter valued at about $370,000. Symmetry Partners LLC lifted its position in shares of Marathon Oil by 3.0% during the first quarter. Symmetry Partners LLC now owns 119,195 shares of the oil and gas producer’s stock valued at $2,993,000 after purchasing an additional 3,489 shares in the last quarter. Finally, BOKF NA raised its position in Marathon Oil by 14.5% in the fourth quarter. BOKF NA now owns 120,333 shares of the oil and gas producer’s stock worth $1,975,000 after acquiring an additional 15,270 shares during the period. Institutional investors and hedge funds own 79.19% of the company’s stock.

NYSE MRO opened at $23.10 on Thursday. The company’s 50-day moving average price is $27.48 and its 200-day moving average price is $23.03. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.34. The stock has a market cap of $16.35 billion, a PE ratio of 8.05, a PEG ratio of 0.33 and a beta of 2.56. Marathon Oil Co. has a 12 month low of $10.41 and a 12 month high of $33.24.

Marathon Oil (NYSE:MRO – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.04. Marathon Oil had a net margin of 35.01% and a return on equity of 16.78%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The business’s revenue for the quarter was up 63.7% on a year-over-year basis. As a group, sell-side analysts forecast that Marathon Oil Co. will post 5.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Wednesday, May 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.39%. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, May 17th. Marathon Oil’s dividend payout ratio is presently 11.15%.

MRO has been the topic of several research reports. Susquehanna Bancshares raised shares of Marathon Oil from a “neutral” rating to a “positive” rating and set a $32.00 price objective on the stock in a research report on Monday, April 25th. Royal Bank of Canada boosted their price target on shares of Marathon Oil from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, March 30th. Morgan Stanley boosted their price target on shares of Marathon Oil from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Monday, June 6th. Wells Fargo & Company boosted their price objective on shares of Marathon Oil from $24.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, March 14th. Finally, Piper Sandler cut their price target on shares of Marathon Oil to $39.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Oil currently has a consensus rating of “Moderate Buy” and an average target price of $31.27.

In other news, insider Patrick Wagner sold 65,218 shares of the firm’s stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $25.63, for a total value of $1,671,537.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lee M. Tillman sold 270,588 shares of the firm’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $26.09, for a total transaction of $7,059,640.92. The disclosure for this sale can be found here. Insiders sold a total of 445,808 shares of company stock valued at $11,826,491 over the last ninety days. 0.52% of the stock is currently owned by insiders.

Marathon Oil Profile (Get Rating)

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

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