Vanguard Group Inc. Sells 1,335,857 Shares of Marathon Oil Co. (NYSE:MRO)

Vanguard Group Inc. reduced its holdings in shares of Marathon Oil Co. (NYSE:MROFree Report) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,295,068 shares of the oil and gas producer’s stock after selling 1,335,857 shares during the quarter. Vanguard Group Inc. owned approximately 12.18% of Marathon Oil worth $1,907,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. boosted its stake in shares of Marathon Oil by 87.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 25,847 shares of the oil and gas producer’s stock worth $691,000 after acquiring an additional 12,074 shares during the period. American Century Companies Inc. boosted its stake in shares of Marathon Oil by 15.5% during the 3rd quarter. American Century Companies Inc. now owns 558,285 shares of the oil and gas producer’s stock worth $14,934,000 after acquiring an additional 74,986 shares during the period. Neo Ivy Capital Management bought a new position in shares of Marathon Oil during the 3rd quarter worth approximately $352,000. Quantum Financial Advisors LLC bought a new position in shares of Marathon Oil during the 3rd quarter worth approximately $217,000. Finally, Public Sector Pension Investment Board boosted its stake in Marathon Oil by 10.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 142,303 shares of the oil and gas producer’s stock valued at $3,807,000 after purchasing an additional 14,041 shares during the period. 76.62% of the stock is currently owned by institutional investors.

Marathon Oil Price Performance

Marathon Oil stock opened at $26.51 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.40. Marathon Oil Co. has a 52 week low of $20.57 and a 52 week high of $29.56. The stock has a market capitalization of $15.30 billion, a P/E ratio of 10.36 and a beta of 2.21. The stock has a fifty day moving average of $23.49 and a 200-day moving average of $25.06.

Marathon Oil (NYSE:MROGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. Marathon Oil had a return on equity of 14.09% and a net margin of 23.20%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. Marathon Oil’s revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts expect that Marathon Oil Co. will post 2.46 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.44 dividend on an annualized basis and a yield of 1.66%. Marathon Oil’s payout ratio is presently 17.19%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley restated an “equal weight” rating and issued a $25.00 price target (down from $27.00) on shares of Marathon Oil in a research note on Monday, December 11th. Truist Financial reduced their price target on Marathon Oil from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Piper Sandler reduced their price target on Marathon Oil from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Benchmark reduced their price target on Marathon Oil from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, January 12th. Finally, Raymond James cut their target price on Marathon Oil from $35.00 to $32.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Marathon Oil has an average rating of “Moderate Buy” and an average price target of $31.09.

Check Out Our Latest Stock Report on MRO

Marathon Oil Profile

(Free Report)

Marathon Oil Corporation, an independent exploration and production company, engages in exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas in the United States and internationally. The company also produces and markets 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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