PNC Financial Services Group Inc. Sells 7,252 Shares of Marathon Oil Co. (NYSE:MRO)

PNC Financial Services Group Inc. decreased its holdings in Marathon Oil Co. (NYSE:MRO) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 203,912 shares of the oil and gas producer’s stock after selling 7,252 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Marathon Oil were worth $4,927,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MRO. Oak Thistle LLC bought a new stake in Marathon Oil during the fourth quarter valued at about $1,440,000. Victory Capital Management Inc. grew its stake in Marathon Oil by 127.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,527,604 shares of the oil and gas producer’s stock valued at $61,067,000 after acquiring an additional 1,415,639 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Marathon Oil in the fourth quarter worth about $3,209,000. Ardevora Asset Management LLP increased its stake in 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 worth $10,861,000 after acquiring an additional 76,210 shares during the last quarter. Finally, Pathstone Family Office LLC raised its stake in Marathon Oil by 222.3% during the third quarter. Pathstone Family Office LLC now owns 67,851 shares of the oil and gas producer’s stock valued at $1,815,000 after purchasing an additional 46,796 shares in the last quarter. 77.24% of the stock is owned by institutional investors.

Marathon Oil Price Performance

Shares of MRO stock opened at $25.56 on Friday. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The stock has a fifty day simple moving average of $27.51 and a two-hundred day simple moving average of $25.27. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 10.56 and a beta of 2.22. 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:MRO) last posted its quarterly 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. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. On average, analysts predict that Marathon Oil Co. will post 2.89 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, May 14th. Marathon Oil’s dividend payout ratio (DPR) is currently 18.18%.

Insider Activity

In other news, insider Patrick Wagner sold 39,969 shares of the stock in a transaction 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 in the company, valued at approximately $4,757,459.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Marathon Oil news, insider Patrick Wagner sold 39,969 shares of the business’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 value of $1,074,766.41. Following the sale, the insider now owns 176,923 shares of the company’s stock, valued at $4,757,459.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael A. Henderson sold 51,389 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $27.59, for a total value of $1,417,822.51. Following the transaction, the vice president now 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 90 days. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

MRO has been the topic of several analyst reports. Benchmark reissued a “buy” rating and set a $32.00 price objective on shares of Marathon Oil in a research note on Friday, May 3rd. UBS Group decreased their price target on Marathon Oil from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Argus raised shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Thursday, March 14th. Barclays assumed coverage on shares of Marathon Oil in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Piper Sandler lifted their price target 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. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.14.

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.