Desjardins Global Asset Management Inc. Decreases Stake in Marathon Oil Co. (NYSE:MRO)

Desjardins Global Asset Management Inc. reduced its position in Marathon Oil Co. (NYSE:MRO) by 11.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,570 shares of the oil and gas producer’s stock after selling 958 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Marathon Oil were worth $183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oak Thistle LLC purchased a new position in Marathon Oil in the 4th quarter valued at about $1,440,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Marathon Oil by 57.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 607,336 shares of the oil and gas producer’s stock worth $16,246,000 after purchasing an additional 221,388 shares during the last quarter. LSV Asset Management lifted its position in shares of Marathon Oil by 3.3% during the third quarter. LSV Asset Management now owns 4,692,600 shares of the oil and gas producer’s stock worth $125,527,000 after purchasing an additional 150,440 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in shares of Marathon Oil by 9.3% during the third quarter. Brandywine Global Investment Management LLC now owns 849,254 shares of the oil and gas producer’s stock worth $22,718,000 after purchasing an additional 71,988 shares during the last quarter. Finally, Pathstone Family Office LLC lifted its position in shares of Marathon Oil by 222.3% during the third quarter. Pathstone Family Office LLC now owns 67,851 shares of the oil and gas producer’s stock worth $1,815,000 after purchasing an additional 46,796 shares during the last quarter. 77.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Oil

In related news, VP Michael A. Henderson sold 51,389 shares of the firm’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 directly owns 114,828 shares in the company, valued at $3,168,104.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Patrick Wagner sold 36,094 shares of the firm’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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Henderson sold 51,389 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $27.59, for a total transaction of $1,417,822.51. Following 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. Insiders have sold 281,332 shares of company stock worth $7,644,903 over the last quarter. 0.42% of the stock is currently owned by company insiders.

Marathon Oil Price Performance

NYSE MRO opened at $27.39 on Friday. Marathon Oil Co. has a 12 month low of $21.63 and a 12 month high of $30.06. 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 capitalization of $15.65 billion, a PE ratio of 10.70 and a beta of 2.22. The company’s 50 day simple moving average is $26.13 and its 200 day simple moving average is $25.34.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas producer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Oil Co. will post 2.73 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 21st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.61%. Marathon Oil’s dividend payout ratio is presently 17.19%.

Analyst Ratings Changes

Several equities analysts have recently commented on MRO shares. Benchmark increased their price target 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. Mizuho increased their price target on shares of Marathon Oil from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Stifel Nicolaus reduced their price target on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. UBS Group dropped their price objective on shares of Marathon Oil from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Finally, Morgan Stanley increased their price objective on shares of Marathon Oil from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marathon Oil presently has a consensus rating of “Moderate Buy” and an average target price of $32.66.

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.