Manning & Napier Group LLC Sells 30,560 Shares of Marathon Oil Co. (NYSE:MRO)

Manning & Napier Group LLC decreased its stake in shares of Marathon Oil Co. (NYSE:MROFree Report) by 16.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,183 shares of the oil and gas producer’s stock after selling 30,560 shares during the quarter. Manning & Napier Group LLC’s holdings in Marathon Oil were worth $3,677,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MRO. TradeLink Capital LLC acquired a new position in Marathon Oil during the 1st quarter valued at approximately $781,000. D.A. Davidson & CO. acquired a new stake in shares of Marathon Oil in the first quarter worth $209,000. Great West Life Assurance Co. Can increased its stake in shares of Marathon Oil by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 160,065 shares of the oil and gas producer’s stock worth $4,192,000 after acquiring an additional 10,388 shares during the period. Westwood Holdings Group Inc. acquired a new stake in shares of Marathon Oil in the first quarter worth $206,000. Finally, Cibc World Market Inc. increased its stake in shares of Marathon Oil by 7.4% in the first quarter. Cibc World Market Inc. now owns 187,679 shares of the oil and gas producer’s stock worth $4,713,000 after acquiring an additional 12,859 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.

Analyst Ratings Changes

MRO has been the topic of a number of research reports. Stifel Nicolaus cut their price objective on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. UBS Group lowered their price target on shares of Marathon Oil from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Truist Financial lowered their price target on shares of Marathon Oil from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Mizuho increased their price target on shares of Marathon Oil from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Finally, Piper Sandler lowered their price target on shares of Marathon Oil from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.68.

View Our Latest Research Report on Marathon Oil

Marathon Oil Price Performance

Marathon Oil stock opened at $28.34 on Friday. Marathon Oil Co. has a 12-month low of $21.63 and a 12-month high of $29.56. The stock has a market cap of $16.36 billion, a P/E ratio of 11.07 and a beta of 2.21. The company has a 50-day moving average price of $24.40 and a 200 day moving average price of $25.11. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30.

Marathon Oil (NYSE:MROGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the business earned $0.88 earnings per share. Marathon Oil’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Oil Co. will post 2.46 earnings per share for the current year.

Marathon Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Tuesday, February 20th. Marathon Oil’s dividend payout ratio is presently 17.19%.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, CFO Dane E. Whitehead sold 73,233 shares of Marathon Oil stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $27.06, for a total transaction of $1,981,684.98. Following the completion of the sale, the chief financial officer now directly owns 152,008 shares in the company, valued at $4,113,336.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Lee M. Tillman sold 80,647 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $2,172,630.18. Following the completion of the transaction, the chief executive officer now owns 596,330 shares of the company’s stock, valued at $16,065,130.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Dane E. Whitehead sold 73,233 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $27.06, for a total transaction of $1,981,684.98. Following the completion of the transaction, the chief financial officer now directly owns 152,008 shares of the company’s stock, valued at approximately $4,113,336.48. The disclosure for this sale can be found here. Insiders sold a total of 281,332 shares of company stock worth $7,644,903 over the last three months. Insiders own 0.42% of the company’s stock.

About Marathon Oil

(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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