Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 14,072 Shares of Marathon Oil Co. (NYSE:MRO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Marathon Oil Co. (NYSE:MROFree Report) by 13.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,784 shares of the oil and gas producer’s stock after acquiring an additional 14,072 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Marathon Oil were worth $3,258,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Marathon Oil by 1,220.4% during the first quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock valued at $219,828,000 after buying an additional 8,091,570 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Marathon Oil by 1,134.4% in the first quarter. JPMorgan Chase & Co. now owns 5,457,542 shares of the oil and gas producer’s stock valued at $130,763,000 after purchasing an additional 5,015,428 shares during the last quarter. Woodline Partners LP bought a new stake in Marathon Oil in the 2nd quarter worth about $89,591,000. Goldman Sachs Group Inc. increased its stake in Marathon Oil by 60.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,739,802 shares of the oil and gas producer’s stock valued at $194,346,000 after buying an additional 2,904,140 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Marathon Oil by 137.9% during the 1st quarter. Deutsche Bank AG now owns 4,679,450 shares of the oil and gas producer’s stock worth $112,120,000 after buying an additional 2,712,809 shares in the last quarter. Institutional investors own 76.62% of the company’s stock.

Marathon Oil Trading Up 0.9 %

Shares of Marathon Oil stock opened at $22.65 on Tuesday. The company’s 50-day moving average price is $23.54 and its 200-day moving average price is $25.37. 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 Co. has a 12-month low of $20.57 and a 12-month high of $29.56. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 8.39 and a beta of 2.22.

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

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, February 20th. Marathon Oil’s dividend payout ratio is presently 16.30%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MRO. Susquehanna lifted their price target on Marathon Oil from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, November 3rd. Stifel Nicolaus cut their price target on shares of Marathon Oil from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, November 20th. Piper Sandler decreased their price objective on shares of Marathon Oil from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Raymond James dropped their target price on shares of Marathon Oil from $35.00 to $32.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, 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 research note on Friday, January 12th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.16.

View Our Latest Report on MRO

Marathon Oil 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.

See Also

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Institutional Ownership by Quarter for Marathon Oil (NYSE:MRO)

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