Commonwealth Equity Services LLC Decreases Holdings in Marathon Oil Co. (NYSE:MRO)

Commonwealth Equity Services LLC trimmed its holdings in shares of Marathon Oil Co. (NYSE:MROGet Rating) by 50.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,954 shares of the oil and gas producer’s stock after selling 170,577 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Marathon Oil were worth $4,242,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its position in shares of Marathon Oil by 12.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 427,276 shares of the oil and gas producer’s stock valued at $10,729,000 after buying an additional 46,491 shares in the last quarter. Waldron Private Wealth LLC bought a new position in Marathon Oil during the 1st quarter valued at about $239,000. Versor Investments LP bought a new position in Marathon Oil during the 1st quarter valued at about $417,000. Harvest Investment Services LLC bought a new position in Marathon Oil during the 1st quarter valued at about $392,000. Finally, FinTrust Capital Advisors LLC grew its holdings in Marathon Oil by 8,695.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 8,092 shares of the oil and gas producer’s stock valued at $203,000 after purchasing an additional 8,000 shares during the last quarter. 79.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on MRO shares. Susquehanna Bancshares upgraded shares of Marathon Oil from a “neutral” rating to a “positive” rating and set a $32.00 price target on the stock in a report on Monday, April 25th. Mizuho cut their price target on shares of Marathon Oil from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, July 19th. StockNews.com downgraded shares of Marathon Oil from a “buy” rating to a “hold” rating in a report on Thursday. Truist Financial upped their target price on shares of Marathon Oil from $34.00 to $41.00 in a research note on Thursday, April 21st. Finally, Citigroup downgraded shares of Marathon Oil from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $31.00 to $24.00 in a research note on Friday, June 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.88.

Insider Activity at Marathon Oil

In other Marathon Oil news, CFO Dane E. Whitehead sold 30,291 shares of the firm’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $28.03, for a total value of $849,056.73. Following the completion of the transaction, the chief financial officer now owns 290,934 shares of the company’s stock, valued at $8,154,880.02. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Marathon Oil news, CFO Dane E. Whitehead sold 30,291 shares of the firm’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $28.03, for a total value of $849,056.73. Following the completion of the transaction, the chief financial officer now owns 290,934 shares of the company’s stock, valued at $8,154,880.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dane E. Whitehead sold 79,711 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $28.18, for a total transaction of $2,246,255.98. Following the completion of the transaction, the chief financial officer now directly owns 321,225 shares of the company’s stock, valued at approximately $9,052,120.50. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Marathon Oil Trading Up 1.4 %

NYSE:MRO opened at $21.77 on Friday. Marathon Oil Co. has a 52 week low of $10.41 and a 52 week high of $33.24. The firm has a 50 day moving average of $24.71 and a 200 day moving average of $24.26. The company has a quick ratio of 1.06, a current ratio of 1.10 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $15.41 billion, a price-to-earnings ratio of 5.16, a PEG ratio of 0.33 and a beta of 2.53.

Marathon Oil (NYSE:MROGet Rating) last posted its earnings results on Wednesday, May 4th. The oil and gas producer reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.04. Marathon Oil had a net margin of 42.46% and a return on equity of 23.61%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. Marathon Oil’s revenue for the quarter was up 63.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Oil Co. will post 4.77 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, August 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.47%. Marathon Oil’s payout ratio is 7.58%.

Marathon Oil Profile

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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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