Private Advisor Group LLC Sells 10,371 Shares of Marathon Oil Co. (NYSE:MRO)

Private Advisor Group LLC reduced its position in shares of Marathon Oil Co. (NYSE:MRO) by 24.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,355 shares of the oil and gas producer’s stock after selling 10,371 shares during the period. Private Advisor Group LLC’s holdings in Marathon Oil were worth $899,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MRO. Riverview Trust Co bought a new stake in shares of Marathon Oil during the 1st quarter worth $27,000. Benjamin Edwards Inc. boosted its holdings in shares of Marathon Oil by 226.0% during the 1st 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 during the period. Founders Capital Management boosted its holdings in shares of Marathon Oil by 100.0% during the 2nd 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 during the period. Fortis Group Advisors LLC boosted its holdings in Marathon Oil by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 618 shares during the period. Finally, Grove Bank & Trust boosted its holdings in Marathon Oil by 77.4% in the 2nd quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the period. 77.24% of the stock is owned by institutional investors.

Marathon Oil Trading Up 2.0 %

Shares of Marathon Oil stock opened at $26.66 on Tuesday. The stock has a market capitalization of $15.04 billion, a P/E ratio of 11.02 and a beta of 2.16. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The company has a 50-day simple moving average of $27.72 and a 200 day simple moving average of $27.51. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06.

Marathon Oil (NYSE:MRO) last posted 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). 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 company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. Research analysts expect that Marathon Oil Co. will post 2.76 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.65%. The ex-dividend date was Wednesday, August 21st. Marathon Oil’s payout ratio is presently 18.18%.

Analysts Set New Price Targets

MRO has been the subject of a number of research reports. Citigroup reduced their price target on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Scotiabank reduced their price target on shares of Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. reduced their price target on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. UBS Group reduced their price target on shares of Marathon Oil from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, Mizuho reduced their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Marathon Oil currently has a consensus rating of “Moderate Buy” and an average target price of $31.76.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the firm’s 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 sale, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

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.