Trueblood Wealth Management LLC Buys New Stake in Marathon Oil Co. (NYSE:MRO)

Trueblood Wealth Management LLC acquired a new position in shares of Marathon Oil Co. (NYSE:MRO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,120 shares of the oil and gas producer’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Marathon Oil by 1.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,569 shares of the oil and gas producer’s stock valued at $711,000 after acquiring an additional 421 shares in the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Marathon Oil by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 9,879 shares of the oil and gas producer’s stock valued at $237,000 after acquiring an additional 466 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its holdings in shares of Marathon Oil by 41.3% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,679 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 491 shares in the last quarter. High Net Worth Advisory Group LLC boosted its holdings in shares of Marathon Oil by 50.0% in the first quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the oil and gas producer’s stock valued at $38,000 after acquiring an additional 500 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Marathon Oil by 8.5% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 6,400 shares of the oil and gas producer’s stock valued at $156,000 after acquiring an additional 500 shares in the last quarter. 77.24% of the stock is owned by hedge funds and other institutional investors.

Marathon Oil Stock Performance

NYSE:MRO opened at $28.34 on Friday. The firm has a 50 day simple moving average of $24.28 and a 200-day simple moving average of $25.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.40 and a quick ratio of 0.35. The firm has a market cap of $16.36 billion, a PE ratio of 11.07 and a beta of 2.21. Marathon Oil Co. has a 1-year low of $21.63 and a 1-year high of $29.56.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, equities analysts expect that Marathon Oil Co. will post 2.46 EPS for the current year.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 21st were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.44 dividend on an annualized basis and a yield of 1.55%. Marathon Oil’s payout ratio is 17.19%.

Insider Activity at Marathon Oil

In related news, insider Patrick Wagner sold 36,094 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total value of $997,999.10. Following the completion of the sale, the insider now directly owns 140,829 shares in the company, valued at $3,893,921.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Patrick Wagner sold 36,094 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total value of $997,999.10. Following the completion of the sale, the insider now directly owns 140,829 shares in the company, valued at $3,893,921.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael A. Henderson sold 51,389 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $27.59, for a total transaction of $1,417,822.51. Following the completion of the sale, the vice president now owns 114,828 shares of the company’s stock, valued at $3,168,104.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 281,332 shares of company stock worth $7,644,903. 0.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MRO shares. Argus upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Thursday, March 14th. Truist Financial reduced their price objective on shares of Marathon Oil from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Morgan Stanley raised their price objective on shares of Marathon Oil from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday. Raymond James cut their target price on shares of Marathon Oil from $35.00 to $32.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Benchmark lifted their target price on shares of Marathon Oil from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Five 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 company’s stock. Based on data from MarketBeat, Marathon Oil presently has an average rating of “Moderate Buy” and an average price target of $31.68.

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.