Alpine Woods Capital Investors LLC increased its holdings in shares of Marathon Oil Co. (NYSE:MRO – Free Report) by 16.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 79,045 shares of the oil and gas producer’s stock after purchasing an additional 11,083 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Marathon Oil were worth $2,114,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Marathon Oil by 57.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 607,336 shares of the oil and gas producer’s stock worth $16,246,000 after purchasing an additional 221,388 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Marathon Oil by 3.3% in the 3rd quarter. LSV Asset Management now owns 4,692,600 shares of the oil and gas producer’s stock valued at $125,527,000 after buying an additional 150,440 shares in the last quarter. Barclays PLC grew its position in shares of Marathon Oil by 46.1% in the 2nd quarter. Barclays PLC now owns 1,061,516 shares of the oil and gas producer’s stock valued at $24,436,000 after buying an additional 334,727 shares during the last quarter. Cibc World Markets Corp raised its stake in Marathon Oil by 125.4% during the 2nd quarter. Cibc World Markets Corp now owns 72,372 shares of the oil and gas producer’s stock worth $1,666,000 after acquiring an additional 40,257 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Marathon Oil by 149.2% in the third quarter. Commonwealth Equity Services LLC now owns 373,921 shares of the oil and gas producer’s stock valued at $10,002,000 after acquiring an additional 223,877 shares during the last quarter. 76.62% of the stock is currently owned by institutional investors and hedge funds.
Marathon Oil Price Performance
Shares of NYSE MRO traded down $0.22 during trading on Monday, hitting $22.24. 2,009,635 shares of the company were exchanged, compared to its average volume of 9,078,863. The firm’s fifty day moving average price is $23.87 and its 200 day moving average price is $25.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.64 and a quick ratio of 0.58. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 0.44 and a beta of 2.22. Marathon Oil Co. has a 1 year low of $20.57 and a 1 year high of $29.56.
Marathon Oil Announces Dividend
Marathon Oil declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 1st that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the oil and gas producer to purchase up to 14.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on MRO. Citigroup boosted their target price on Marathon Oil from $31.00 to $32.50 and gave the company a “buy” rating in a report on Wednesday, October 18th. Piper Sandler lowered their target price on shares of Marathon Oil from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Raymond James reduced their price target on shares of 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. UBS Group reissued a “neutral” rating and set a $28.00 price objective (down from $34.00) on shares of Marathon Oil in a research report on Thursday, December 14th. Finally, Benchmark lowered their price target on Marathon Oil from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, January 12th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.16.
Marathon Oil Company Profile
Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.
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