Marathon Oil Co. (NYSE:MRO) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its position in shares of Marathon Oil Co. (NYSE:MRO) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,084 shares of the oil and gas producer’s stock after acquiring an additional 454 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Marathon Oil were worth $641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. HWG Holdings LP purchased a new stake in Marathon Oil during the second quarter worth $26,000. Riverview Trust Co purchased a new stake in shares of Marathon Oil in the 1st quarter worth about $27,000. Benjamin Edwards Inc. grew its stake in Marathon Oil by 226.0% in the 1st 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 last quarter. Founders Capital Management increased its holdings in 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 valued at $29,000 after acquiring an additional 500 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Marathon Oil during the second quarter worth about $29,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Insider Activity

In related news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president now directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction 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 in the company, valued at $2,090,489.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

MRO has been the subject of a number of recent research reports. Piper Sandler raised their price objective on shares of Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. decreased 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. StockNews.com began coverage on Marathon Oil in a research report on Sunday. They set a “buy” rating for the company. Wells Fargo & Company reduced their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Finally, Susquehanna lowered their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Oil presently has a consensus rating of “Moderate Buy” and an average target price of $31.09.

Marathon Oil Trading Down 3.4 %

MRO stock opened at $28.11 on Wednesday. Marathon Oil Co. has a 52 week low of $21.81 and a 52 week high of $30.06. The company has a market cap of $15.86 billion, a price-to-earnings ratio of 11.62 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 business has a fifty day simple moving average of $27.49 and a 200-day simple moving average of $27.72.

Marathon Oil (NYSE:MRO) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts expect that Marathon Oil Co. will post 2.53 EPS for the current year.

Marathon Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, August 21st. Marathon Oil’s payout ratio is currently 18.18%.

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.