Marathon Oil Co. (NYSE:MRO) Holdings Raised by Wolverine Asset Management LLC

Wolverine Asset Management LLC boosted its stake in shares of Marathon Oil Co. (NYSE:MRO) by 55.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,525 shares of the oil and gas producer’s stock after buying an additional 10,213 shares during the period. Wolverine Asset Management LLC’s holdings in Marathon Oil were worth $760,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MRO. HWG Holdings LP acquired a new position in Marathon Oil in the 2nd quarter worth about $26,000. Founders Capital Management boosted its position in shares of Marathon Oil by 100.0% in the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 500 shares during the period. Highbridge Capital Management LLC acquired a new stake in Marathon Oil in the 2nd quarter worth $29,000. Grove Bank & Trust grew its position in Marathon Oil by 77.4% during the second quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Marathon Oil during the third quarter valued at approximately $36,000. 77.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on MRO shares. Truist Financial lowered their price target on Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays dropped their target price on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company reduced their price target on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Citigroup dropped their price objective on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Scotiabank boosted their target price on Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.12.

Marathon Oil Price Performance

Shares of NYSE MRO opened at $28.31 on Wednesday. The stock has a market capitalization of $15.84 billion, a PE ratio of 12.15 and a beta of 2.16. Marathon Oil Co. has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.52. The business has a fifty day moving average price of $27.25 and a two-hundred day moving average price of $27.53.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. As a group, equities analysts predict that Marathon Oil Co. will post 2.37 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 1.55%. Marathon Oil’s dividend payout ratio is currently 18.88%.

Insider Buying and Selling at Marathon Oil

In other news, VP Michael A. Henderson sold 38,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the transaction, the vice president now owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the transaction, the insider now owns 100,000 shares of the company’s stock, valued at $2,750,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $27.21, for a total value of $1,033,980.00. Following the sale, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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.