Brooklyn Investment Group Makes New Investment in Marathon Oil Co. (NYSE:MRO)

Brooklyn Investment Group bought a new stake in shares of Marathon Oil Co. (NYSE:MRO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,808 shares of the oil and gas producer’s stock, valued at approximately $75,000.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in Marathon Oil by 10.2% in the 3rd quarter. Pacer Advisors Inc. now owns 14,727,190 shares of the oil and gas producer’s stock worth $392,185,000 after purchasing an additional 1,357,369 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Marathon Oil by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,461,323 shares of the oil and gas producer’s stock worth $242,582,000 after buying an additional 328,184 shares during the last quarter. LSV Asset Management increased its holdings in shares of Marathon Oil by 10.1% in the 2nd quarter. LSV Asset Management now owns 6,443,713 shares of the oil and gas producer’s stock worth $184,741,000 after buying an additional 593,100 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Marathon Oil by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,267,506 shares of the oil and gas producer’s stock worth $140,274,000 after buying an additional 19,566 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Marathon Oil by 6.3% in the 3rd quarter. Fisher Asset Management LLC now owns 2,884,151 shares of the oil and gas producer’s stock worth $76,805,000 after buying an additional 171,450 shares during the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Insider Transactions at Marathon Oil

In other news, insider Patrick Wagner sold 36,094 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $28.84, for a total value of $1,040,950.96. Following the transaction, the insider now directly owns 104,735 shares of the company’s stock, valued at approximately $3,020,557.40. This trade represents a 25.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the transaction, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. This represents a 33.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,693 shares of company stock valued at $10,964,251. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MRO shares. Susquehanna cut their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. lowered their price target on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. StockNews.com began coverage on shares of Marathon Oil in a research report on Saturday, November 23rd. They issued a “buy” rating for the company. Truist Financial lowered their price target on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Mizuho lowered their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Nine equities research 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 company. According to MarketBeat.com, Marathon Oil presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.94.

Marathon Oil Price Performance

MRO stock opened at $28.55 on Friday. 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 firm has a market cap of $15.97 billion, a PE ratio of 12.25 and a beta of 2.16. Marathon Oil Co. has a one year low of $21.81 and a one year high of $30.06. The firm’s fifty day moving average is $27.72 and its 200 day moving average is $27.68.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, research analysts forecast that Marathon Oil Co. will post 2.34 EPS for the current year.

Marathon Oil Dividend Announcement

The firm 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 annualized dividend 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%.

Marathon Oil Company 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.