Kennedy Investment Group Trims Stake in Marathon Oil Co. (NYSE:MRO)

Kennedy Investment Group lessened its position in shares of Marathon Oil Co. (NYSE:MRO) by 2.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 42,629 shares of the oil and gas producer’s stock after selling 994 shares during the quarter. Kennedy Investment Group’s holdings in Marathon Oil were worth $1,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in MRO. Park Avenue Securities LLC raised its position in Marathon Oil by 4.8% in the 1st quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer’s stock valued at $257,000 after purchasing an additional 415 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Marathon Oil during the first quarter worth about $1,662,000. Riverview Trust Co acquired a new position in Marathon Oil in the 1st quarter valued at about $27,000. Richelieu Gestion SA acquired a new stake in Marathon Oil during the 1st quarter worth approximately $221,000. Finally, F&V Capital Management LLC grew its stake in shares of Marathon Oil by 1.9% in the 1st quarter. F&V Capital Management LLC now owns 557,112 shares of the oil and gas producer’s stock valued at $15,789,000 after purchasing an additional 10,155 shares during the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.

Insider Buying and Selling

In other news, VP Michael A. Henderson sold 38,000 shares of the business’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 $2,090,489.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $27.21, for a total value of $1,033,980.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the sale, the insider now owns 100,000 shares of the company’s stock, valued at $2,750,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRO. JPMorgan Chase & Co. lowered 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 report on Thursday, September 12th. Citigroup reduced their price objective on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Susquehanna dropped their target price 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. StockNews.com assumed coverage on Marathon Oil in a report on Monday, October 14th. They issued a “buy” rating for the company. Finally, Truist Financial dropped their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a report 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 assigned a strong buy rating to the company. According to MarketBeat, Marathon Oil presently has an average rating of “Moderate Buy” and an average target price of $31.12.

Marathon Oil Trading Down 0.0 %

Shares of MRO traded down $0.01 on Monday, hitting $26.71. 1,729,444 shares of the stock traded hands, compared to its average volume of 8,174,253. The firm has a market capitalization of $14.94 billion, a P/E ratio of 10.40 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. Marathon Oil Co. has a 1 year low of $21.81 and a 1 year high of $30.06. The stock’s 50 day moving average is $27.56 and its two-hundred day moving average is $27.68.

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 (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. Marathon Oil’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. As a group, sell-side analysts predict that Marathon Oil Co. will post 2.52 earnings per share for the current year.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a yield of 1.65%. Marathon Oil’s payout ratio is 17.12%.

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.