Wright Investors Service Inc. Sells 978 Shares of Marathon Oil Co. (NYSE:MRO)

Wright Investors Service Inc. cut its stake in Marathon Oil Co. (NYSE:MRO) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,950 shares of the oil and gas producer’s stock after selling 978 shares during the quarter. Wright Investors Service Inc.’s holdings in Marathon Oil were worth $1,277,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. HWG Holdings LP acquired a new stake in Marathon Oil during the second quarter worth about $26,000. Riverview Trust Co acquired a new stake in Marathon Oil during the first quarter worth 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. Finally, Highbridge Capital Management LLC acquired a new stake in Marathon Oil during the second quarter worth about $29,000. 77.24% of the stock is owned by institutional investors.

Insider Transactions at Marathon Oil

In other news, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 $2,090,489.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 100,000 shares in the company, valued at approximately $2,750,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. 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 initiated coverage on shares of Marathon Oil in a research note on Saturday, September 28th. They issued a “buy” rating on the stock. UBS Group reduced their price target 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. Mizuho reduced their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Truist Financial reduced their price target on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Nine equities 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 stock. According to data from MarketBeat.com, Marathon Oil has a consensus rating of “Moderate Buy” and an average target price of $31.09.

Marathon Oil Stock Up 1.6 %

Shares of Marathon Oil stock traded up $0.45 during trading on Friday, reaching $28.99. 4,123,779 shares of the company traded hands, compared to its average volume of 8,366,913. 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 moving average price of $27.46 and a 200-day moving average price of $27.70. The firm has a market capitalization of $16.35 billion, a PE ratio of 11.98 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last released its quarterly earnings data 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). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts expect that Marathon Oil Co. will post 2.53 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a $0.11 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 annualized dividend and a dividend yield of 1.52%. Marathon Oil’s payout ratio is 18.18%.

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.