Frank Rimerman Advisors LLC Purchases New Shares in Marathon Oil Co. (NYSE:MRO)

Frank Rimerman Advisors LLC purchased a new stake in Marathon Oil Co. (NYSE:MRO) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 41,238 shares of the oil and gas producer’s stock, valued at approximately $1,182,000.

Several other institutional investors and hedge funds have also modified their holdings of MRO. Riverview Trust Co acquired a new position in shares of Marathon Oil in the first quarter valued at about $27,000. Benjamin Edwards Inc. grew its stake in Marathon Oil by 226.0% during the first quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 678 shares in the last quarter. Founders Capital Management grew its stake in 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 in the last quarter. Highbridge Capital Management LLC acquired a new stake in Marathon Oil during the second quarter worth about $29,000. Finally, Fortis Group Advisors LLC grew its stake in Marathon Oil by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 618 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Dane E. Whitehead sold 52,008 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Dane E. Whitehead sold 52,008 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael A. Henderson sold 38,000 shares of the firm’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 disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Marathon Oil Stock Up 0.1 %

Shares of NYSE MRO opened at $27.93 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. Marathon Oil Co. has a 1 year low of $21.81 and a 1 year high of $30.06. The company has a 50 day simple moving average of $27.67 and a 200 day simple moving average of $27.60. The firm has a market cap of $15.75 billion, a PE ratio of 11.54 and a beta of 2.16.

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 (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the business posted $0.48 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Marathon Oil Co. will post 2.7 EPS for the current year.

Marathon Oil Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 annualized dividend and a yield of 1.58%. Marathon Oil’s payout ratio is 18.18%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MRO shares. UBS Group reduced their price objective on shares of 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. reduced their price objective on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. StockNews.com assumed coverage on shares of Marathon Oil in a report on Friday. They issued a “buy” rating for the company. Piper Sandler increased their target price on shares of Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Capital One Financial cut shares of Marathon Oil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 5th. 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.65.

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.