Harbor Investment Advisory LLC increased its stake in Marathon Oil Co. (NYSE:MRO – Get Rating ) by 138.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,720 shares of the oil and gas producer’s stock after buying an additional 1,000 shares during the period. Harbor Investment Advisory LLC’s holdings in Marathon Oil were worth $43,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allegheny Financial Group LTD acquired a new stake in Marathon Oil in the 4th quarter worth $34,000. HWG Holdings LP acquired a new stake in Marathon Oil in the 4th quarter worth $36,000. Concord Wealth Partners increased its position in Marathon Oil by 1,554 .0% in the 4th quarter. Concord Wealth Partners now owns 2,299 shares of the oil and gas producer’s stock valued at $38,000 after buying an additional 2,160 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in Marathon Oil by 69.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 2,879 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,176 shares in the last quarter. Finally, Confluence Wealth Services Inc. acquired a new stake in shares of Marathon Oil in the 4th quarter valued at about $50,000. The institutional investors own 79.19% of the company’s stock.
In other news, CFO Dane E. Whitehead sold 79,711 shares of Marathon Oil stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $28.18, for a total transaction of $2,246,255.98. Following the completion of the sale, the chief financial officer now owns 321,225 shares in the company, valued at approximately $9,052,120.50. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Also, CFO Dane E. Whitehead sold 30,291 shares of Marathon Oil stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $28.03, for a total transaction of $849,056.73. Following the sale, the chief financial officer now owns 290,934 shares of the company’s stock, valued at approximately $8,154,880.02. Disclosure of this sale can be found here. Insiders own 0.52% of the company’s stock.
Shares of NYSE MRO opened at $22.55 on Monday. Marathon Oil Co. has a 1-year low of $10.41 and a 1-year high of $33.24. The company has a market cap of $15.96 billion, a PE ratio of 7.86, a P/E/G ratio of 0.30 and a beta of 2.61. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $26.95 and a 200 day moving average of $23.48.
Marathon Oil (NYSE:MRO – Get Rating ) last announced its earnings results on Wednesday, May 4th. The oil and gas producer reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.04. Marathon Oil had a net margin of 35.01% and a return on equity of 16.78%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the firm reported earnings of $0.21 per share. The company’s revenue increased by 63.7% year-on-year. As a group, equities research analysts forecast that Marathon Oil Co. will report 5.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Wednesday, May 18th were given a $0.08 dividend. The ex-dividend date was Tuesday, May 17th. This is an increase from Marathon Oil’s previous quarterly dividend of $0.07. This represents an annualized dividend of $0.32 and a dividend yield of 1.42%. Marathon Oil’s payout ratio is currently 11.15%.
Several analysts recently weighed in on MRO shares. Wells Fargo & Company boosted their target price on shares of Marathon Oil from $24.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, March 14th. Barclays boosted their target price on shares of Marathon Oil from $30.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, June 14th. Morgan Stanley upped their target price on shares of Marathon Oil from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Monday, June 6th. Piper Sandler cut their target price on shares of Marathon Oil to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, May 18th. Finally, Citigroup lowered shares of Marathon Oil from a “buy” rating to a “neutral” rating and cut their target price for the company from $31.00 to $24.00 in a research report on Friday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Moderate Buy” and an average target price of $31.53, based on data from MarketBeat.com.
About Marathon Oil (Get Rating)
Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company is engaged in the exploration, production and marketing of crude oil and condensate, natural gas liquids and natural gas; and the production and marketing of products made from natural gas, such as liquefied natural gas and methanol.
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