Amalgamated Bank Trims Holdings in Marathon Oil Co. (NYSE:MRO)

Amalgamated Bank reduced its holdings in shares of Marathon Oil Co. (NYSE:MROGet Rating) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 255,015 shares of the oil and gas producer’s stock after selling 10,818 shares during the quarter. Amalgamated Bank’s holdings in Marathon Oil were worth $6,403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MRO. Offit Capital Advisors LLC bought a new stake in Marathon Oil in the first quarter valued at $201,000. J.W. Cole Advisors Inc. acquired a new position in Marathon Oil during the 1st quarter valued at about $118,000. Teachers Retirement System of The State of Kentucky boosted its stake in Marathon Oil by 129.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 133,201 shares of the oil and gas producer’s stock valued at $3,345,000 after purchasing an additional 75,025 shares during the period. Verition Fund Management LLC boosted its stake in Marathon Oil by 999.8% during the 1st quarter. Verition Fund Management LLC now owns 137,438 shares of the oil and gas producer’s stock valued at $3,451,000 after purchasing an additional 124,941 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Marathon Oil by 33.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,594 shares of the oil and gas producer’s stock valued at $1,497,000 after purchasing an additional 15,071 shares during the period. 75.16% of the stock is owned by institutional investors and hedge funds.

Marathon Oil Stock Performance

MRO stock opened at $26.22 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 6.21, a P/E/G ratio of 0.37 and a beta of 2.48. Marathon Oil Co. has a 12 month low of $11.22 and a 12 month high of $33.24. The firm has a 50 day moving average of $24.01 and a two-hundred day moving average of $25.18.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, August 16th. Marathon Oil’s dividend payout ratio is 7.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup lowered shares of Marathon Oil from a “buy” rating to a “neutral” rating and reduced their target price for the company from $31.00 to $24.00 in a research note on Friday, June 24th. StockNews.com raised shares of Marathon Oil from a “hold” rating to a “buy” rating in a research note on Thursday. Piper Sandler upped their price target on shares of Marathon Oil from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, July 22nd. Barclays reduced their price target on shares of Marathon Oil from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, August 31st. Finally, Mizuho reduced their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.19.

About Marathon Oil

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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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