Janney Montgomery Scott LLC Trims Position in Marathon Oil Co. (NYSE:MRO)

Janney Montgomery Scott LLC lessened its position in shares of Marathon Oil Co. (NYSE:MROGet Rating) by 30.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,179 shares of the oil and gas producer’s stock after selling 13,088 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Marathon Oil were worth $681,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ronald Blue Trust Inc. purchased a new stake in Marathon Oil during the second quarter valued at $30,000. CX Institutional purchased a new stake in Marathon Oil in the second quarter worth about $34,000. Brown Brothers Harriman & Co. increased its position in Marathon Oil by 90.6% in the first quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 647 shares in the last quarter. Covestor Ltd increased its position in Marathon Oil by 76.6% in the first quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 619 shares in the last quarter. Finally, High Net Worth Advisory Group LLC increased its position in Marathon Oil by 50.0% in 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 buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 77.30% of the company’s stock.

Marathon Oil Price Performance

Shares of Marathon Oil stock opened at $27.88 on Friday. The stock has a 50 day moving average of $28.20 and a 200 day moving average of $26.44. Marathon Oil Co. has a 12 month low of $17.01 and a 12 month high of $33.42. The firm has a market cap of $17.65 billion, a PE ratio of 5.35, a PEG ratio of 0.28 and a beta of 2.43. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32.

Marathon Oil (NYSE:MROGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The oil and gas producer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.07 billion. Marathon Oil had a return on equity of 27.76% and a net margin of 46.11%. On average, research analysts expect that Marathon Oil Co. will post 4.51 EPS for the current fiscal year.

Marathon Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Wednesday, November 16th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.29%. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, November 15th. Marathon Oil’s dividend payout ratio (DPR) is presently 6.91%.

Insider Activity

In other news, CFO Dane E. Whitehead sold 172,230 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $31.86, for a total value of $5,487,247.80. Following the completion of the sale, the chief financial officer now directly owns 205,870 shares of the company’s stock, valued at approximately $6,559,018.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Lee M. Tillman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $32.56, for a total value of $976,800.00. Following the sale, the chief executive officer now directly owns 916,219 shares in the company, valued at $29,832,090.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dane E. Whitehead sold 172,230 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $31.86, for a total value of $5,487,247.80. Following the completion of the sale, the chief financial officer now owns 205,870 shares in the company, valued at $6,559,018.20. The disclosure for this sale can be found here. Insiders sold 419,601 shares of company stock valued at $13,493,768 in the last ninety days. Insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays upped their price target on Marathon Oil from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 7th. StockNews.com cut Marathon Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Piper Sandler reduced their price target on Marathon Oil from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, January 13th. Credit Suisse Group upped their price objective on Marathon Oil from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, November 3rd. Finally, Raymond James upped their price objective on Marathon Oil from $37.00 to $48.00 and gave the stock a “strong-buy” rating in a research note on Monday, November 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.38.

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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