Parallel Advisors LLC Increases Stake in Marathon Oil Co. (NYSE:MRO)

Parallel Advisors LLC raised its stake in shares of Marathon Oil Co. (NYSE:MRO) by 12.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,011 shares of the oil and gas producer’s stock after purchasing an additional 1,231 shares during the period. Parallel Advisors LLC’s holdings in Marathon Oil were worth $316,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of Marathon Oil during the 1st quarter valued at $27,000. Benjamin Edwards Inc. grew its position 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 valued at $28,000 after acquiring an additional 678 shares during the period. Founders Capital Management increased 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 acquiring an additional 500 shares during the last quarter. Fortis Group Advisors LLC raised its holdings in shares of 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 worth $30,000 after purchasing an additional 618 shares during the period. Finally, Grove Bank & Trust lifted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Marathon Oil Price Performance

NYSE MRO opened at $27.43 on Thursday. The company has a 50-day moving average price of $27.69 and a two-hundred day moving average price of $27.53. Marathon Oil Co. has a 52 week low of $21.81 and a 52 week high of $30.06. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 11.33 and a beta of 2.16. 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 (NYSE:MRO) last issued its quarterly earnings data 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 business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. Analysts forecast that Marathon Oil Co. will post 2.7 EPS for the current year.

Marathon Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Wednesday, August 21st. Marathon Oil’s dividend payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Scotiabank dropped their target price on shares of Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating for the company in a research report on Monday, August 12th. 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. Capital One Financial cut Marathon Oil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. lowered their target price on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Susquehanna reduced their price target on Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. 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 company’s stock. Based on data from MarketBeat, Marathon Oil presently has an average rating of “Moderate Buy” and an average price target of $31.65.

Insider Buying and Selling

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the business’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 in the company, valued at approximately $2,090,489.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Marathon Oil 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.