Martin Investment Management LLC Has $6.10 Million Holdings in Marathon Oil Co. (NYSE:MRO)

Martin Investment Management LLC grew its position in Marathon Oil Co. (NYSE:MRO) by 5.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,051 shares of the oil and gas producer’s stock after buying an additional 12,704 shares during the quarter. Marathon Oil makes up approximately 1.5% of Martin Investment Management LLC’s portfolio, making the stock its 27th largest position. Martin Investment Management LLC’s holdings in Marathon Oil were worth $6,100,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. grew its holdings in shares of Marathon Oil by 34.0% during the third quarter. QRG Capital Management Inc. now owns 91,015 shares of the oil and gas producer’s stock valued at $2,424,000 after buying an additional 23,105 shares in the last quarter. National Pension Service boosted its position in Marathon Oil by 2.4% during the 3rd quarter. National Pension Service now owns 1,082,770 shares of the oil and gas producer’s stock worth $28,834,000 after acquiring an additional 25,518 shares during the period. Intact Investment Management Inc. acquired a new position in shares of Marathon Oil in the 3rd quarter valued at about $75,000. Forum Financial Management LP lifted its position in shares of Marathon Oil by 4.7% in the third quarter. Forum Financial Management LP now owns 18,844 shares of the oil and gas producer’s stock worth $502,000 after purchasing an additional 853 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted its position in shares of Marathon Oil by 13.8% in the third quarter. Integrated Advisors Network LLC now owns 32,480 shares of the oil and gas producer’s stock worth $865,000 after purchasing an additional 3,930 shares in the last quarter. 77.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MRO has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Susquehanna dropped their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Truist Financial reduced their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. UBS Group dropped their target price on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Finally, StockNews.com began coverage on Marathon Oil in a report on Wednesday, October 30th. They set a “buy” rating for the company. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marathon Oil currently has an average rating of “Moderate Buy” and an average target price of $31.12.

Insider Activity

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

Marathon Oil Stock Performance

Shares of MRO opened at $27.51 on Tuesday. The company has a market capitalization of $15.39 billion, a PE ratio of 10.70 and a beta of 2.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. Marathon Oil Co. has a one year low of $21.81 and a one year high of $30.06. The company’s fifty day moving average price is $27.27 and its 200 day moving average price is $27.50.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts expect that Marathon Oil Co. will post 2.41 earnings per share for the current year.

Marathon Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.60%. Marathon Oil’s dividend payout ratio is 17.12%.

About Marathon Oil

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.