ABLE Financial Group LLC Boosts Holdings in Marathon Oil Co. (NYSE:MRO)

ABLE Financial Group LLC grew its stake in Marathon Oil Co. (NYSE:MRO) by 5.4% during the 3rd quarter, Holdings Channel reports. The firm owned 22,186 shares of the oil and gas producer’s stock after purchasing an additional 1,127 shares during the quarter. ABLE Financial Group LLC’s holdings in Marathon Oil were worth $591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. HWG Holdings LP acquired a new stake in Marathon Oil in the 2nd quarter worth about $26,000. Founders Capital Management boosted its stake in 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 worth $29,000 after purchasing an additional 500 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Marathon Oil during the second quarter worth $29,000. Grove Bank & Trust raised its position in shares of Marathon Oil by 77.4% in the second quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 465 shares during the last quarter. Finally, Hilltop National Bank lifted its stake in shares of Marathon Oil by 89.5% in the second quarter. Hilltop National Bank now owns 1,620 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler increased their price objective on shares of Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Wells Fargo & Company cut their price target on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Truist Financial lowered their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Mizuho cut their target price on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Citigroup dropped their price objective on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Oil presently has a consensus rating of “Moderate Buy” and an average target price of $31.12.

Marathon Oil Trading Down 0.6 %

NYSE:MRO traded down $0.18 during trading hours on Friday, reaching $28.37. 744,239 shares of the stock were exchanged, compared to its average volume of 8,023,934. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 12.15 and a beta of 2.16. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The business has a 50-day moving average of $27.26 and a two-hundred day moving average of $27.52.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Marathon Oil had a net margin of 19.73% and a return on equity of 12.87%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts predict that Marathon Oil Co. will post 2.37 EPS for the current year.

Marathon Oil Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.55%. Marathon Oil’s dividend payout ratio (DPR) is 18.88%.

Insider Transactions at Marathon Oil

In related news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the 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 of the company’s stock, valued at approximately $2,090,489.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction 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 sale, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Marathon Oil 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.