Marathon Oil Co. (NYSE:MRO) Stake Lessened by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in shares of Marathon Oil Co. (NYSE:MRO) by 47.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 306,577 shares of the oil and gas producer’s stock after selling 280,325 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of Marathon Oil worth $7,408,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Oak Thistle LLC bought a new position in shares of Marathon Oil during the fourth quarter worth about $1,440,000. LSV Asset Management lifted its holdings in Marathon Oil by 3.3% during the 3rd quarter. LSV Asset Management now owns 4,692,600 shares of the oil and gas producer’s stock worth $125,527,000 after buying an additional 150,440 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Marathon Oil in the 4th quarter worth approximately $3,209,000. Ardevora Asset Management LLP increased its holdings in shares of Marathon Oil by 20.4% in the 4th quarter. Ardevora Asset Management LLP now owns 449,551 shares of the oil and gas producer’s stock valued at $10,861,000 after acquiring an additional 76,210 shares during the last quarter. Finally, Pathstone Family Office LLC raised its position in shares of Marathon Oil by 222.3% during the 3rd quarter. Pathstone Family Office LLC now owns 67,851 shares of the oil and gas producer’s stock valued at $1,815,000 after acquiring an additional 46,796 shares in the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group lowered their target price on shares of Marathon Oil from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Piper Sandler increased their price objective on shares of Marathon Oil from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Barclays began coverage on shares of Marathon Oil in a report on Wednesday, April 10th. They issued an “overweight” rating and a $35.00 target price on the stock. Susquehanna reaffirmed a “positive” rating and set a $33.00 target price on shares of Marathon Oil in a report on Monday, April 22nd. Finally, Morgan Stanley raised their price target on Marathon Oil from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Marathon Oil presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.61.

Marathon Oil Stock Performance

Shares of NYSE MRO opened at $27.05 on Wednesday. Marathon Oil Co. has a 1 year low of $21.81 and a 1 year high of $30.06. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.48 and a current ratio of 0.55. The stock has a fifty day moving average price of $27.14 and a two-hundred day moving average price of $25.35. The firm has a market cap of $15.26 billion, a P/E ratio of 11.18 and a beta of 2.22.

Marathon Oil (NYSE:MRO) last released its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company earned $0.67 earnings per share. Marathon Oil’s revenue was down 7.7% compared to the same quarter last year. Research analysts forecast that Marathon Oil Co. will post 2.84 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Tuesday, May 14th. Marathon Oil’s payout ratio is 18.18%.

Insiders Place Their Bets

In other news, insider Patrick Wagner sold 36,094 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total transaction of $997,999.10. Following the completion of the sale, the insider now directly owns 140,829 shares of the company’s stock, valued at approximately $3,893,921.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total value of $997,999.10. Following the completion of the transaction, the insider now directly owns 140,829 shares in the company, valued at $3,893,921.85. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lee M. Tillman sold 80,647 shares of the business’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 transaction of $2,172,630.18. Following the sale, the chief executive officer now owns 596,330 shares in the company, valued at approximately $16,065,130.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 281,332 shares of company stock worth $7,644,903. 0.35% of the stock is owned by insiders.

Marathon Oil Company Profile

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.