Teachers Retirement System of The State of Kentucky lifted its holdings in Marathon Oil Co. (NYSE:MRO – Get Rating) by 129.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,201 shares of the oil and gas producer’s stock after buying an additional 75,025 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Marathon Oil were worth $3,345,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Arkadios Wealth Advisors boosted its stake in shares of Marathon Oil by 1.2% in the first quarter. Arkadios Wealth Advisors now owns 35,200 shares of the oil and gas producer’s stock valued at $884,000 after buying an additional 422 shares in the last quarter. PFG Advisors raised its holdings in Marathon Oil by 4.0% during the first quarter. PFG Advisors now owns 12,214 shares of the oil and gas producer’s stock worth $307,000 after purchasing an additional 466 shares during the last quarter. Stonebridge Capital Advisors LLC raised its holdings in Marathon Oil by 41.3% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,679 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 491 shares during the last quarter. High Net Worth Advisory Group LLC raised its holdings in Marathon Oil by 50.0% during the first quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. Finally, Moors & Cabot Inc. raised its holdings in Marathon Oil by 3.0% during the first quarter. Moors & Cabot Inc. now owns 17,078 shares of the oil and gas producer’s stock worth $429,000 after purchasing an additional 501 shares during the last quarter. 75.16% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Citigroup cut Marathon Oil from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $31.00 to $24.00 in a report on Friday, June 24th. The Goldman Sachs Group lowered their price target on Marathon Oil from $29.00 to $25.00 and set a “sell” rating for the company in a research report on Tuesday, July 5th. Bank of America decreased their target price on Marathon Oil from $28.00 to $25.00 and set an “underperform” rating for the company in a research report on Tuesday, July 19th. Mizuho cut their price target on Marathon Oil from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. Finally, Morgan Stanley cut their price target on Marathon Oil from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday, August 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Oil currently has an average rating of “Moderate Buy” and a consensus price target of $30.19.
Marathon Oil Trading Down 1.1 %
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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.23%. The ex-dividend date was Tuesday, August 16th. Marathon Oil’s payout ratio is 7.58%.
About Marathon Oil
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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