Carrera Capital Advisors Makes New $1.81 Million Investment in Marathon Oil Co. (NYSE:MRO)

Carrera Capital Advisors acquired a new stake in Marathon Oil Co. (NYSE:MRO) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 68,086 shares of the oil and gas producer’s stock, valued at approximately $1,813,000.

Other institutional investors have also modified their holdings of the company. HWG Holdings LP acquired a new position in Marathon Oil during the second quarter valued at approximately $26,000. Founders Capital Management lifted 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 valued at $29,000 after acquiring an additional 500 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in Marathon Oil during the 2nd quarter worth $29,000. Grove Bank & Trust increased 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 in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Marathon Oil in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Insider Activity

In related news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at $2,750,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction dated 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 owns 100,000 shares in the company, valued at approximately $2,750,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction that occurred on 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 sale, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MRO. StockNews.com began coverage on Marathon Oil in a research report on Thursday, November 7th. They issued a “buy” rating for the company. Barclays lowered their price objective on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Citigroup reduced their target price on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Mizuho lowered 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, September 16th. Finally, Piper Sandler boosted their price objective on shares of Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marathon Oil has a consensus rating of “Moderate Buy” and a consensus price target of $31.12.

Marathon Oil Stock Performance

Shares of MRO traded down $0.05 during mid-day trading on Tuesday, hitting $28.57. The stock had a trading volume of 2,291,867 shares, compared to its average volume of 8,007,131. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The company has a market cap of $15.98 billion, a PE ratio of 12.28 and a beta of 2.16. Marathon Oil Co. has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company’s fifty day simple moving average is $27.25 and its two-hundred day simple moving average is $27.53.

Marathon Oil (NYSE:MRO) last released its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts expect that Marathon Oil Co. will post 2.37 earnings per share for the current year.

Marathon Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a yield of 1.54%. Marathon Oil’s payout ratio is currently 18.88%.

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.