Campbell & CO Investment Adviser LLC bought a new stake in Marathon Oil Co. (NYSE:MRO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,600 shares of the oil and gas producer’s stock, valued at approximately $252,000.
Other large investors have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its position in shares of Marathon Oil by 14.9% in the 3rd quarter. Raymond James Trust N.A. now owns 18,640 shares of the oil and gas producer’s stock worth $76,000 after purchasing an additional 2,424 shares during the period. Avantax Advisory Services Inc. raised its stake in Marathon Oil by 66.9% during the third quarter. Avantax Advisory Services Inc. now owns 105,465 shares of the oil and gas producer’s stock worth $425,000 after buying an additional 42,284 shares during the last quarter. Salem Capital Management Inc. lifted its holdings in Marathon Oil by 18.8% in the third quarter. Salem Capital Management Inc. now owns 102,174 shares of the oil and gas producer’s stock valued at $418,000 after buying an additional 16,199 shares during the period. Hollencrest Capital Management boosted its position in Marathon Oil by 209.0% during the third quarter. Hollencrest Capital Management now owns 61,800 shares of the oil and gas producer’s stock valued at $253,000 after acquiring an additional 41,800 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Marathon Oil by 109.8% during the third quarter. Envestnet Asset Management Inc. now owns 672,410 shares of the oil and gas producer’s stock valued at $2,750,000 after acquiring an additional 351,980 shares during the last quarter. 70.73% of the stock is owned by institutional investors and hedge funds.
MRO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised Marathon Oil from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a research note on Thursday, July 23rd. Piper Sandler boosted their price target on Marathon Oil from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. UBS Group raised their price objective on shares of Marathon Oil from $4.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, June 29th. Scotiabank dropped their target price on shares of Marathon Oil from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. Finally, Wells Fargo & Company increased their target price on shares of Marathon Oil from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the stock. Marathon Oil presently has an average rating of “Hold” and an average price target of $7.98.
Marathon Oil (NYSE:MRO) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported ($0.60) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.02. Marathon Oil had a negative net margin of 16.03% and a negative return on equity of 3.67%. The company had revenue of $272.00 million during the quarter, compared to the consensus estimate of $530.54 million. On average, sell-side analysts forecast that Marathon Oil Co. will post -1.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.12 annualized dividend and a dividend yield of 2.95%.
Marathon Oil Company Profile
Marathon Oil Corporation operates as an independent exploration and production company in the United States and Equatorial Guinea. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol, as well as owns and operates 32 central gathering and treating facilities and the Sugarloaf gathering system, a 42-mile natural gas pipeline through Karnes and Atascosa Counties.
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