Marathon Oil Co. (NYSE:MRO) Position Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in shares of Marathon Oil Co. (NYSE:MROFree Report) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,070 shares of the oil and gas producer’s stock after selling 14,211 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Marathon Oil worth $8,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Smithfield Trust Co boosted its holdings in shares of Marathon Oil by 367.9% in the third quarter. Smithfield Trust Co now owns 1,020 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 802 shares during the period. NBC Securities Inc. acquired a new stake in shares of Marathon Oil during the third quarter worth approximately $27,000. ICA Group Wealth Management LLC boosted its holdings in shares of Marathon Oil by 92.6% during the first quarter. ICA Group Wealth Management LLC now owns 1,086 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 522 shares during the period. Indiana Trust & Investment Management CO acquired a new stake in shares of Marathon Oil during the third quarter worth approximately $29,000. Finally, KB Financial Partners LLC acquired a new stake in shares of Marathon Oil during the first quarter worth approximately $31,000. Institutional investors own 76.62% of the company’s stock.

Marathon Oil Stock Down 1.1 %

MRO opened at $22.45 on Monday. Marathon Oil Co. has a fifty-two week low of $20.57 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.64 and a quick ratio of 0.58. The firm’s fifty day moving average price is $23.58 and its two-hundred day moving average price is $25.39. The company has a market capitalization of $13.14 billion, a P/E ratio of 8.31 and a beta of 2.22.

Marathon Oil declared that its board has initiated a share buyback plan on Wednesday, November 1st that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the oil and gas producer to purchase up to 14.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st will be paid a $0.11 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.96%. Marathon Oil’s dividend payout ratio is presently 16.30%.

Analyst Ratings Changes

Several research firms recently commented on MRO. Benchmark decreased their price target on shares of Marathon Oil from $28.00 to $25.00 and set a “buy” rating for the company in a report on Friday, January 12th. Susquehanna raised their price objective on shares of Marathon Oil from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday, November 3rd. Raymond James cut their price objective on shares of Marathon Oil from $35.00 to $32.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Citigroup raised their price objective on shares of Marathon Oil from $31.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $25.00 price objective (down previously from $27.00) on shares of Marathon Oil in a research report on Monday, December 11th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.16.

View Our Latest Stock Report on Marathon Oil

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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