Public Employees Retirement Association of Colorado Has $1.90 Million Holdings in Marathon Oil Co. (NYSE:MRO)

Public Employees Retirement Association of Colorado cut its holdings in Marathon Oil Co. (NYSE:MROFree Report) by 6.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,465 shares of the oil and gas producer’s stock after selling 6,138 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Marathon Oil were worth $1,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Marathon Oil by 0.8% in the first quarter. State Street Corp now owns 48,341,531 shares of the oil and gas producer’s stock valued at $1,213,856,000 after purchasing an additional 392,821 shares during the last quarter. FMR LLC raised its holdings in shares of Marathon Oil by 4.6% in the first quarter. FMR LLC now owns 17,618,959 shares of the oil and gas producer’s stock valued at $422,150,000 after purchasing an additional 775,533 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Marathon Oil by 19.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 14,530,310 shares of the oil and gas producer’s stock valued at $348,146,000 after purchasing an additional 2,414,315 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Marathon Oil by 1.2% in the first quarter. Wellington Management Group LLP now owns 9,680,680 shares of the oil and gas producer’s stock valued at $231,949,000 after purchasing an additional 111,336 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Marathon Oil by 51.7% in the first quarter. Pacer Advisors Inc. now owns 9,661,473 shares of the oil and gas producer’s stock valued at $231,489,000 after purchasing an additional 3,291,349 shares during the last quarter. 76.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Susquehanna raised their target price on shares of Marathon Oil from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, November 3rd. Benchmark dropped their price target on Marathon Oil from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, October 12th. StockNews.com began coverage on Marathon Oil in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Mizuho boosted their price target on Marathon Oil from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Monday, September 18th. Finally, Piper Sandler boosted their price target on Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.09.

Read Our Latest Research Report on MRO

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, CFO Dane E. Whitehead sold 53,403 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $27.05, for a total transaction of $1,444,551.15. Following the completion of the sale, the chief financial officer now owns 156,481 shares of the company’s stock, valued at approximately $4,232,811.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Michael A. Henderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $26.91, for a total transaction of $538,200.00. Following the completion of the sale, the vice president now owns 131,254 shares of the company’s stock, valued at approximately $3,532,045.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dane E. Whitehead sold 53,403 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $27.05, for a total transaction of $1,444,551.15. Following the sale, the chief financial officer now directly owns 156,481 shares of the company’s stock, valued at approximately $4,232,811.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 446,226 shares of company stock valued at $12,067,164. 0.42% of the stock is currently owned by company insiders.

Marathon Oil Stock Performance

NYSE:MRO opened at $24.75 on Friday. The stock’s 50-day moving average is $26.68 and its 200-day moving average is $25.13. Marathon Oil Co. has a 1-year low of $20.57 and a 1-year high of $32.54. The stock has a market cap of $14.48 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 0.48 and a beta of 2.30. The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43.

Marathon Oil (NYSE:MROGet Free Report) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Marathon Oil had a net margin of 24.96% and a return on equity of 15.41%. The company’s revenue for the quarter was down 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 EPS. Equities research analysts anticipate that Marathon Oil Co. will post 2.69 earnings per share for the current year.

Marathon Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, November 14th. This is an increase from Marathon Oil’s previous quarterly dividend of $0.10. Marathon Oil’s dividend payout ratio is currently 16.30%.

Marathon Oil announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 1st that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the oil and gas producer to buy up to 14.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Marathon Oil Company Profile

(Free Report)

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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