California Public Employees Retirement System Lowers Holdings in Marathon Oil Co. (NYSE:MRO)

California Public Employees Retirement System decreased its stake in Marathon Oil Co. (NYSE:MRO) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,122,290 shares of the oil and gas producer’s stock after selling 56,806 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Marathon Oil worth $27,115,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MRO. Oppenheimer Asset Management Inc. boosted its position in Marathon Oil by 1.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 26,569 shares of the oil and gas producer’s stock worth $711,000 after purchasing an additional 421 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Marathon Oil by 2.1% during the fourth quarter. First Citizens Bank & Trust Co. now owns 23,631 shares of the oil and gas producer’s stock valued at $571,000 after acquiring an additional 477 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Marathon Oil by 6.8% during the fourth quarter. Lindbrook Capital LLC now owns 7,770 shares of the oil and gas producer’s stock valued at $188,000 after acquiring an additional 494 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Marathon Oil by 24.2% during the third quarter. Avior Wealth Management LLC now owns 2,603 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 508 shares during the last quarter. Finally, Estate Counselors LLC raised its holdings in shares of Marathon Oil by 1.0% during the third quarter. Estate Counselors LLC now owns 55,385 shares of the oil and gas producer’s stock valued at $1,482,000 after acquiring an additional 538 shares during the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Benchmark reissued a “buy” rating and set a $32.00 target price on shares of Marathon Oil in a report on Tuesday, April 23rd. Barclays initiated coverage on Marathon Oil in a report on Wednesday, April 10th. They issued an “overweight” rating and a $35.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $33.00 target price on shares of Marathon Oil in a research note on Tuesday, March 5th. Piper Sandler raised their target price on Marathon Oil from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Mizuho raised their target price on Marathon Oil from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.66.

Insider Activity at Marathon Oil

In related news, insider Patrick Wagner sold 36,094 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total value of $997,999.10. Following the transaction, the insider now owns 140,829 shares of the company’s stock, valued at $3,893,921.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Patrick Wagner sold 36,094 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total value of $997,999.10. Following the transaction, the insider now owns 140,829 shares of the company’s stock, valued at $3,893,921.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lee M. Tillman sold 80,647 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $2,172,630.18. Following the completion of the transaction, the chief executive officer now directly owns 596,330 shares in the company, valued at approximately $16,065,130.20. The disclosure for this sale can be found here. Insiders have sold 281,332 shares of company stock valued at $7,644,903 over the last quarter. 0.42% of the stock is owned by insiders.

Marathon Oil Stock Up 0.1 %

Marathon Oil stock opened at $27.77 on Friday. Marathon Oil Co. has a twelve month low of $21.63 and a twelve month high of $30.06. The stock’s fifty day simple moving average is $26.72 and its 200-day simple moving average is $25.44. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $15.87 billion, a P/E ratio of 10.85 and a beta of 2.22.

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, topping analysts’ consensus estimates of $0.62 by $0.07. Marathon Oil had a return on equity of 14.09% and a net margin of 23.20%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. As a group, equities analysts expect that Marathon Oil Co. will post 2.84 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, May 14th. Marathon Oil’s dividend payout ratio (DPR) is presently 17.19%.

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.