Pacer Advisors Inc. Increases Stake in Marathon Oil Co. (NYSE:MRO)

Pacer Advisors Inc. boosted its stake in Marathon Oil Co. (NYSE:MRO) by 13.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,369,821 shares of the oil and gas producer’s stock after purchasing an additional 1,552,210 shares during the quarter. Marathon Oil comprises 0.9% of Pacer Advisors Inc.’s portfolio, making the stock its 26th largest position. Pacer Advisors Inc. owned about 2.39% of Marathon Oil worth $383,313,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gryphon Financial Partners LLC grew its stake in shares of Marathon Oil by 53.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 17,497 shares of the oil and gas producer’s stock valued at $423,000 after buying an additional 6,066 shares during the period. Principal Securities Inc. acquired a new stake in Marathon Oil during the fourth quarter worth about $53,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Marathon Oil by 8.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,129 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 1,052 shares during the period. Avantax Advisory Services Inc. lifted its stake in shares of Marathon Oil by 21.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 15,976 shares of the oil and gas producer’s stock valued at $386,000 after purchasing an additional 2,875 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Marathon Oil by 33.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 49,630 shares of the oil and gas producer’s stock worth $1,199,000 after purchasing an additional 12,413 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.

Insider Transactions at Marathon Oil

In related news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil 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 transaction, the vice president now directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction dated 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 sale, the insider now owns 100,000 shares in the company, valued at approximately $2,750,000. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MRO shares. Mizuho cut their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company reissued an “equal weight” rating and issued a $29.00 target price (down previously from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. Piper Sandler upped their price target on shares of Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. StockNews.com started coverage on Marathon Oil in a research report on Friday. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Nine investment 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.65.

Marathon Oil Trading Up 0.1 %

MRO opened at $27.93 on Friday. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. The stock has a market capitalization of $15.75 billion, a PE ratio of 11.54 and a beta of 2.16. The firm’s fifty day moving average price is $27.67 and its 200 day moving average price is $27.56.

Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. As a group, research analysts expect that Marathon Oil Co. will post 2.7 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Oil’s dividend payout ratio is presently 18.18%.

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.