Pinebridge Investments L.P. lowered its position in shares of Marathon Oil Co. (NYSE:MRO – Get Rating) by 50.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 274,094 shares of the oil and gas producer’s stock after selling 281,863 shares during the period. Pinebridge Investments L.P.’s holdings in Marathon Oil were worth $4,501,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in shares of Marathon Oil by 218.1% during the fourth quarter. Acadian Asset Management LLC now owns 180,169 shares of the oil and gas producer’s stock worth $2,954,000 after purchasing an additional 123,527 shares in the last quarter. Soltis Investment Advisors LLC acquired a new stake in shares of Marathon Oil during the fourth quarter worth about $1,301,000. First Horizon Advisors Inc. increased its position in shares of Marathon Oil by 367.8% during the fourth quarter. First Horizon Advisors Inc. now owns 9,006 shares of the oil and gas producer’s stock worth $147,000 after purchasing an additional 7,081 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Marathon Oil during the fourth quarter worth about $268,000. Finally, UMB Bank N A MO acquired a new stake in shares of Marathon Oil during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 79.19% of the company’s stock.
Shares of MRO opened at $27.00 on Friday. The stock has a fifty day moving average of $25.12 and a two-hundred day moving average of $20.62. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.06 and a current ratio of 1.10. The company has a market capitalization of $19.11 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 0.37 and a beta of 2.58. Marathon Oil Co. has a fifty-two week low of $10.41 and a fifty-two week high of $29.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, May 17th. This is a boost from Marathon Oil’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.19%. Marathon Oil’s payout ratio is currently 9.76%.
MRO has been the topic of a number of research analyst reports. TheStreet upgraded Marathon Oil from a “c+” rating to a “b” rating in a research report on Wednesday, February 16th. Morgan Stanley raised their price target on Marathon Oil from $20.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, April 22nd. Truist Financial raised their price target on Marathon Oil from $34.00 to $41.00 in a report on Thursday, April 21st. Benchmark lowered Marathon Oil from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Finally, Scotiabank raised Marathon Oil from a “sector perform” rating to a “sector outperform” rating and set a $28.00 price target on the stock in a report on Friday, February 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.94.
In related news, CAO Rob L. White sold 8,700 shares of the stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $23.00, for a total value of $200,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dane E. Whitehead sold 86,331 shares of the stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $25.36, for a total value of $2,189,354.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,180,065 shares of company stock valued at $29,703,167 over the last three months. Corporate insiders own 0.52% of the company’s stock.
Marathon Oil Profile (Get Rating)
Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. 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.
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