Harvest Fund Management Co. Ltd Sells 6,198 Shares of Marathon Oil Co. (NYSE:MRO)

Harvest Fund Management Co. Ltd lessened its holdings in Marathon Oil Co. (NYSE:MRO) by 57.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,524 shares of the oil and gas producer’s stock after selling 6,198 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Marathon Oil were worth $120,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. HWG Holdings LP acquired a new position in Marathon Oil during the 2nd quarter valued at approximately $26,000. Founders Capital Management lifted its stake in shares of Marathon Oil by 100.0% during the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 500 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Marathon Oil during the second quarter valued at $29,000. Grove Bank & Trust increased its position in shares of Marathon Oil by 77.4% in the 2nd quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in Marathon Oil in the 3rd quarter worth $36,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Stock Performance

NYSE:MRO opened at $28.55 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.69. The stock has a market capitalization of $15.97 billion, a PE ratio of 12.25 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 fifty day moving average of $27.70 and a two-hundred day moving average of $27.67.

Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts forecast that Marathon Oil Co. will post 2.34 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, November 15th. Marathon Oil’s payout ratio is 18.88%.

Wall Street Analyst Weigh In

MRO has been the topic of several research analyst reports. UBS Group dropped their price target on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. dropped their target price on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Susquehanna reduced their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Barclays dropped their price objective on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Scotiabank raised their target price on shares of Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.94.

Insider Activity at Marathon Oil

In related news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the sale, the vice president now owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. This represents a 33.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the completion of the sale, the insider now owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. The trade was a 34.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 382,693 shares of company stock valued at $10,964,251. 0.35% of the stock is owned by insiders.

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.