Bank of New York Mellon Corp Sells 626,584 Shares of Marathon Oil Co. (NYSE:MRO)

Bank of New York Mellon Corp lessened its position in Marathon Oil Co. (NYSE:MRO – Get Rating) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,411,943 shares of the oil and gas producer’s stock after selling 626,584 shares during the quarter. Bank of New York Mellon Corp’s holdings in Marathon Oil were worth $167,362,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in Marathon Oil by 39.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,379 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 393 shares during the period. Raymond James Trust N.A. increased its holdings in shares of Marathon Oil by 2.4% during the 3rd quarter. Raymond James Trust N.A. now owns 17,737 shares of the oil and gas producer’s stock worth $401,000 after purchasing an additional 423 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Marathon Oil by 0.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,279 shares of the oil and gas producer’s stock worth $1,135,000 after purchasing an additional 447 shares during the period. Stonebridge Capital Advisors LLC increased its holdings in shares of Marathon Oil by 41.3% during the 1st 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 period. Finally, High Net Worth Advisory Group LLC increased its holdings in shares of Marathon Oil by 50.0% during the 1st 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 period. Institutional investors own 77.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Marathon Oil from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, January 13th. Mizuho reiterated a “neutral” rating and set a $32.00 target price on shares of Marathon Oil in a research report on Tuesday, January 10th. Barclays lifted their target price on shares of Marathon Oil from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 7th. Benchmark upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Thursday, February 16th. Finally, Morgan Stanley upgraded shares of Marathon Oil from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $27.00 to $28.00 in a research report on Tuesday, January 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Marathon Oil currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

Marathon Oil Price Performance

NYSE:MRO opened at $21.20 on Friday. Marathon Oil Co. has a 12 month low of $19.42 and a 12 month high of $33.42. The company’s 50-day moving average price is $26.11 and its two-hundred day moving average price is $27.22. The firm has a market cap of $13.35 billion, a PE ratio of 4.08, a price-to-earnings-growth ratio of 0.27 and a beta of 2.38. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.48.

Marathon Oil (NYSE:MRO – Get Rating) last announced its earnings results on Thursday, February 16th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. Marathon Oil had a net margin of 44.95% and a return on equity of 27.07%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Marathon Oil’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts anticipate that Marathon Oil Co. will post 3.48 EPS for the current fiscal year.

Marathon Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Wednesday, February 15th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, February 14th. Marathon Oil’s dividend payout ratio is presently 7.71%.

Marathon Oil Profile

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Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S.