Kentucky Retirement Systems Insurance Trust Fund Cuts Stake in Marathon Oil Co. (NYSE:MRO)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Marathon Oil Co. (NYSE:MROFree Report) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,850 shares of the oil and gas producer’s stock after selling 824 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Marathon Oil were worth $504,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Smithfield Trust Co increased its stake in shares of Marathon Oil by 367.9% during the third quarter. Smithfield Trust Co now owns 1,020 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 802 shares during the period. NBC Securities Inc. purchased a new position in shares of Marathon Oil during the third quarter valued at $27,000. Anchor Investment Management LLC purchased a new position in shares of Marathon Oil during the fourth quarter valued at $37,000. Central Bank & Trust Co. purchased a new position in shares of Marathon Oil during the fourth quarter valued at $41,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of Marathon Oil during the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Marathon Oil Trading Up 1.0 %

Shares of NYSE:MRO opened at $26.46 on Tuesday. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06. The company has a market capitalization of $14.92 billion, a PE ratio of 10.93 and a beta of 2.22. The business has a 50 day moving average of $27.51 and a two-hundred day moving average of $25.28. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 0.41.

Marathon Oil (NYSE:MROGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. Marathon Oil’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. As a group, analysts forecast that Marathon Oil Co. will post 2.89 EPS for the current year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, May 14th. Marathon Oil’s payout ratio is 18.18%.

Insider Transactions at Marathon Oil

In other news, insider Patrick Wagner sold 39,969 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $26.89, for a total transaction of $1,074,766.41. Following the completion of the transaction, the insider now directly owns 176,923 shares of the company’s stock, valued at approximately $4,757,459.47. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Patrick Wagner sold 39,969 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $26.89, for a total transaction of $1,074,766.41. Following the completion of the transaction, the insider now directly owns 176,923 shares of the company’s stock, valued at approximately $4,757,459.47. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael A. Henderson sold 51,389 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $27.59, for a total value of $1,417,822.51. Following the transaction, the vice president now directly owns 114,828 shares of the company’s stock, valued at $3,168,104.52. The disclosure for this sale can be found here. Insiders sold a total of 281,332 shares of company stock valued at $7,644,903 in the last three months. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on MRO. Stifel Nicolaus cut their target price on Marathon Oil from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Truist Financial cut their target price on Marathon Oil from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Susquehanna reiterated a “positive” rating and issued a $33.00 target price on shares of Marathon Oil in a research note on Monday, April 22nd. Scotiabank boosted their price target on Marathon Oil from $35.00 to $45.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, UBS Group dropped their price target on Marathon Oil from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.14.

Get Our Latest Analysis on Marathon Oil

Marathon Oil Company 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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