Treasurer of the State of North Carolina grew its position in shares of Marathon Oil Co. (NYSE:MRO) by 3.5% during the third quarter, Holdings Channel reports. The institutional investor owned 282,433 shares of the oil and gas producer’s stock after purchasing an additional 9,539 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Marathon Oil were worth $3,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of Marathon Oil during the 2nd quarter valued at $25,000. Reilly Financial Advisors LLC purchased a new position in shares of Marathon Oil during the 3rd quarter valued at $27,000. Spire Wealth Management lifted its position in shares of Marathon Oil by 64.6% during the 3rd quarter. Spire Wealth Management now owns 7,140 shares of the oil and gas producer’s stock valued at $98,000 after buying an additional 2,803 shares during the last quarter. NEXT Financial Group Inc lifted its position in shares of Marathon Oil by 95.0% during the 3rd quarter. NEXT Financial Group Inc now owns 7,802 shares of the oil and gas producer’s stock valued at $107,000 after buying an additional 3,800 shares during the last quarter. Finally, S.A. Mason LLC lifted its position in shares of Marathon Oil by 109.8% during the 3rd quarter. S.A. Mason LLC now owns 9,460 shares of the oil and gas producer’s stock valued at $129,000 after buying an additional 4,950 shares during the last quarter. 70.87% of the stock is currently owned by hedge funds and other institutional investors.
MRO has been the topic of a number of recent research reports. Morgan Stanley upped their price target on Marathon Oil from $15.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 6th. Mizuho boosted their price objective on Marathon Oil from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 30th. Royal Bank of Canada boosted their price objective on Marathon Oil from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 5th. Benchmark began coverage on Marathon Oil in a research note on Tuesday, October 26th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on Marathon Oil from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, October 21st. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $18.06.
In other news, CAO Gary Eugene Wilson sold 99,174 shares of the company’s stock in a transaction dated Tuesday, December 7th. The stock was sold at an average price of $16.37, for a total value of $1,623,478.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick Wagner sold 62,157 shares of the stock in a transaction dated Wednesday, November 24th. The shares were sold at an average price of $16.83, for a total value of $1,046,102.31. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.
Shares of NYSE MRO opened at $16.42 on Monday. The firm has a market capitalization of $12.78 billion, a P/E ratio of -273.62, a P/E/G ratio of 0.81 and a beta of 3.02. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $16.17 and its two-hundred day simple moving average is $14.03. Marathon Oil Co. has a twelve month low of $6.59 and a twelve month high of $17.59.
Marathon Oil (NYSE:MRO) last announced its earnings results on Wednesday, November 3rd. The oil and gas producer reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Marathon Oil had a positive return on equity of 5.17% and a negative net margin of 0.91%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company earned ($0.28) EPS. As a group, research analysts anticipate that Marathon Oil Co. will post 1.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Wednesday, November 17th were issued a $0.06 dividend. This is a boost from Marathon Oil’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, November 16th. Marathon Oil’s dividend payout ratio is presently -399.93%.
Marathon Oil Company Profile
Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S.
Recommended Story: How to interpret Moving Average Convergence Divergence (MACD)
Want to see what other hedge funds are holding MRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Oil Co. (NYSE:MRO).
Want More Great Investing Ideas?