16,339 Shares in Marathon Oil Co. (NYSE:MRO) Purchased by Choreo LLC

Choreo LLC acquired a new position in shares of Marathon Oil Co. (NYSE:MRO) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 16,339 shares of the oil and gas producer’s stock, valued at approximately $469,000.

A number of other hedge funds have also modified their holdings of the company. Park Avenue Securities LLC grew its holdings in shares of Marathon Oil by 4.8% during the first quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer’s stock worth $257,000 after buying an additional 415 shares in the last quarter. Wahed Invest LLC grew its holdings in shares of Marathon Oil by 4.2% during the fourth quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer’s stock worth $249,000 after buying an additional 419 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Marathon Oil by 1.9% during the second quarter. Gradient Investments LLC now owns 22,829 shares of the oil and gas producer’s stock worth $655,000 after buying an additional 428 shares in the last quarter. Trueblood Wealth Management LLC grew its stake in Marathon Oil by 4.8% in the first quarter. Trueblood Wealth Management LLC now owns 9,559 shares of the oil and gas producer’s stock valued at $271,000 after purchasing an additional 439 shares in the last quarter. Finally, Argent Capital Management LLC grew its stake in Marathon Oil by 0.5% in the first quarter. Argent Capital Management LLC now owns 87,563 shares of the oil and gas producer’s stock valued at $2,482,000 after purchasing an additional 441 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors.

Marathon Oil Stock Performance

NYSE:MRO opened at $26.13 on Monday. The stock has a market cap of $14.62 billion, a P/E ratio of 10.80 and a beta of 2.16. The stock has a 50 day simple moving average of $27.75 and a 200 day simple moving average of $27.49. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. Marathon Oil Co. has a 1-year low of $21.81 and a 1-year high of $30.06.

Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.06). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. Research analysts anticipate that Marathon Oil Co. will post 2.76 earnings per share for the current year.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 annualized dividend and a yield of 1.68%. Marathon Oil’s dividend payout ratio is presently 18.18%.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction on Friday, September 6th. The stock was sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the transaction, the vice president now directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MRO. Citigroup decreased their price target on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. UBS Group decreased their price target on Marathon Oil from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Susquehanna decreased their price target on Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Piper Sandler raised their price target on Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, StockNews.com initiated coverage on Marathon Oil in a research note on Thursday. They set a “buy” rating for the company. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Marathon Oil has an average rating of “Moderate Buy” and an average price target of $31.87.

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.