Desjardins Global Asset Management Inc. Trims Stock Holdings in Marathon Oil Co. (NYSE:MRO)

Desjardins Global Asset Management Inc. trimmed its stake in Marathon Oil Co. (NYSE:MRO) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,570 shares of the oil and gas producer’s stock after selling 958 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Marathon Oil were worth $183,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC lifted its holdings in shares of Marathon Oil by 92.6% during the first quarter. ICA Group Wealth Management LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 522 shares in the last quarter. Smithfield Trust Co increased its position in Marathon Oil by 367.9% in the third quarter. Smithfield Trust Co now owns 1,020 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 802 shares in the last quarter. NBC Securities Inc. purchased a new stake in Marathon Oil in the third quarter worth about $27,000. KB Financial Partners LLC purchased a new stake in shares of Marathon Oil during the first quarter worth about $31,000. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of Marathon Oil during the second quarter worth about $31,000. 77.24% of the stock is owned by institutional investors.

Insider Transactions at Marathon Oil

In other news, insider Patrick Wagner sold 39,969 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $26.89, for a total value of $1,074,766.41. Following the sale, the insider now owns 176,923 shares in the company, valued at $4,757,459.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Marathon Oil news, CFO Dane E. Whitehead sold 73,233 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $27.06, for a total transaction of $1,981,684.98. Following the transaction, the chief financial officer now owns 152,008 shares in the company, valued at $4,113,336.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Wagner sold 39,969 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.89, for a total value of $1,074,766.41. Following the transaction, the insider now directly owns 176,923 shares of the company’s stock, valued at approximately $4,757,459.47. 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 insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MRO. Morgan Stanley raised their price target on Marathon Oil from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday. The Goldman Sachs Group raised their price target on Marathon Oil from $26.50 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Stifel Nicolaus cut their price target on Marathon Oil from $39.00 to $36.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Barclays started coverage on Marathon Oil in a report on Wednesday, April 10th. They set an “overweight” rating and a $35.00 price target for the company. Finally, Argus raised Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Thursday, March 14th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.66.

Marathon Oil Stock Down 1.0 %

Shares of MRO stock opened at $27.39 on Friday. The stock’s 50-day simple moving average is $26.13 and its 200-day simple moving average is $25.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.40. The firm has a market capitalization of $15.65 billion, a PE ratio of 10.70 and a beta of 2.22. Marathon Oil Co. has a fifty-two week low of $21.63 and a fifty-two week high of $30.06.

Marathon Oil (NYSE:MRO) last issued its earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 EPS 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 firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that Marathon Oil Co. will post 2.73 earnings per share for the current year.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were paid a $0.11 dividend. 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 payout ratio is 17.19%.

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.