DnB Asset Management AS Takes Position in Marathon Oil Co. (NYSE:MRO)

DnB Asset Management AS purchased a new stake in shares of Marathon Oil Co. (NYSE:MROGet Rating) during the second quarter, HoldingsChannel.com reports. The fund purchased 104,011 shares of the oil and gas producer’s stock, valued at approximately $2,338,000.

Other institutional investors have also recently made changes to their positions in the company. Tcwp LLC purchased a new stake in shares of Marathon Oil during the 1st quarter valued at about $103,000. Horizon Investments LLC boosted its holdings in shares of Marathon Oil by 45.9% during the 1st quarter. Horizon Investments LLC now owns 46,994 shares of the oil and gas producer’s stock valued at $1,180,000 after acquiring an additional 14,774 shares during the last quarter. Avidian Wealth Solutions LLC boosted its holdings in shares of Marathon Oil by 10.8% during the 1st quarter. Avidian Wealth Solutions LLC now owns 13,338 shares of the oil and gas producer’s stock valued at $335,000 after acquiring an additional 1,300 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in shares of Marathon Oil during the 1st quarter valued at about $42,000. Finally, Versor Investments LP purchased a new position in shares of Marathon Oil in the first quarter worth approximately $417,000. Hedge funds and other institutional investors own 75.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MRO. Piper Sandler raised their price objective on shares of Marathon Oil from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, July 22nd. Citigroup downgraded shares of Marathon Oil from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $31.00 to $24.00 in a report on Friday, June 24th. Morgan Stanley dropped their price objective on shares of Marathon Oil from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, August 29th. Bank of America dropped their price objective on shares of Marathon Oil from $28.00 to $25.00 and set an “underperform” rating on the stock in a report on Tuesday, July 19th. Finally, Barclays dropped their price objective on shares of Marathon Oil from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.19.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $25.76 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.18 and a quick ratio of 1.14. Marathon Oil Co. has a 1-year low of $11.23 and a 1-year high of $33.24. The company has a market capitalization of $18.23 billion, a P/E ratio of 6.10, a P/E/G ratio of 0.37 and a beta of 2.48. The firm’s 50 day simple moving average is $24.21 and its two-hundred day simple moving average is $25.20.

Marathon Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Tuesday, August 16th. Marathon Oil’s payout ratio is currently 7.58%.

Marathon Oil Company 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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