Ignite Planners LLC Lowers Stock Holdings in Marathon Oil Co. (NYSE:MRO)

Ignite Planners LLC lowered its position in shares of Marathon Oil Co. (NYSE:MRO) by 18.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,471 shares of the oil and gas producer’s stock after selling 1,676 shares during the period. Ignite Planners LLC’s holdings in Marathon Oil were worth $211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in shares of Marathon Oil by 127.3% during the 4th 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 during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Marathon Oil by 374.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 73,592 shares of the oil and gas producer’s stock worth $1,778,000 after buying an additional 58,081 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Marathon Oil by 137.1% during the 4th quarter. Corient Private Wealth LLC now owns 304,331 shares of the oil and gas producer’s stock valued at $7,353,000 after buying an additional 175,964 shares in the last quarter. Blackstone Inc. lifted its holdings in shares of Marathon Oil by 23.1% during the 4th quarter. Blackstone Inc. now owns 79,901 shares of the oil and gas producer’s stock worth $1,930,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in Marathon Oil in the fourth quarter worth $5,051,000. Institutional investors own 77.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MRO. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $33.00 price target on shares of Marathon Oil in a research report on Wednesday, July 17th. StockNews.com initiated coverage on Marathon Oil in a research note on Sunday. They set a “buy” rating on the stock. Piper Sandler increased their target price on Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Scotiabank cut Marathon Oil from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $45.00 to $29.00 in a research note on Friday, July 12th. Finally, Susquehanna increased their price objective on Marathon Oil from $33.00 to $39.00 and gave the company a “positive” rating in a research note on Monday, July 22nd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Marathon Oil Stock Up 0.1 %

MRO traded up $0.03 during trading on Friday, hitting $27.30. 6,615,858 shares of the company’s stock traded hands, compared to its average volume of 9,029,050. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06. The company’s 50 day simple moving average is $28.02 and its two-hundred day simple moving average is $26.68. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 11.28 and a beta of 2.19.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the business earned $0.48 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. Analysts predict that Marathon Oil Co. will post 2.79 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $0.11 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $0.44 annualized dividend and a yield of 1.61%. Marathon Oil’s payout ratio is presently 18.18%.

Marathon Oil 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.