Freedom Investment Management Inc. Lowers Stake in Marathon Oil Co. (NYSE:MRO)

Freedom Investment Management Inc. trimmed its position in Marathon Oil Co. (NYSE:MRO) by 3.5% during the third quarter, HoldingsChannel.com reports. The firm owned 94,132 shares of the oil and gas producer’s stock after selling 3,387 shares during the quarter. Freedom Investment Management Inc.’s holdings in Marathon Oil were worth $2,507,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Townsquare Capital LLC raised its holdings in Marathon Oil by 15.5% in the third quarter. Townsquare Capital LLC now owns 15,584 shares of the oil and gas producer’s stock valued at $415,000 after buying an additional 2,090 shares during the period. Brooklyn Investment Group purchased a new position in Marathon Oil in the third quarter valued at about $75,000. Quantbot Technologies LP acquired a new stake in shares of Marathon Oil in the third quarter valued at about $692,000. The Manufacturers Life Insurance Company lifted its position in Marathon Oil by 9.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 536,807 shares of the oil and gas producer’s stock worth $14,295,000 after acquiring an additional 46,424 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Marathon Oil by 6.3% in the third quarter. Fisher Asset Management LLC now owns 2,884,151 shares of the oil and gas producer’s stock valued at $76,805,000 after acquiring an additional 171,450 shares in the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRO. Wells Fargo & Company decreased their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Mizuho reduced their price target on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their price objective on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Citigroup decreased their price target on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Susquehanna reduced their price objective 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. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.94.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $28.55 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $27.68 and its two-hundred day moving average is $27.67. The firm has a market capitalization of $15.97 billion, a P/E ratio of 12.25 and a beta of 2.16. Marathon Oil Co. has a 52 week low of $21.81 and a 52 week high of $30.06.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings results 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. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Analysts anticipate that Marathon Oil Co. will post 2.34 earnings per share for the current year.

Marathon Oil Dividend Announcement

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

Insider Activity

In other Marathon Oil 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 value of $1,033,980.00. Following the completion of the sale, the vice president now directly 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 can be accessed through this hyperlink. Also, insider Dane E. Whitehead sold 52,008 shares of the business’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 transaction of $1,430,220.00. Following the completion of the sale, the insider now owns 100,000 shares in the company, valued at $2,750,000. The trade was a 34.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 382,693 shares of company stock worth $10,964,251 over the last three months. Corporate insiders own 0.35% of the company’s stock.

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.