Marathon Oil Co. (NYSE:MRO) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its holdings in Marathon Oil Co. (NYSE:MRO) by 71.8% during the third quarter, Holdings Channel reports. The institutional investor owned 27,037 shares of the oil and gas producer’s stock after purchasing an additional 11,299 shares during the quarter. Raymond James Trust N.A.’s holdings in Marathon Oil were worth $720,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. HWG Holdings LP acquired a new position in shares of Marathon Oil during the 2nd quarter worth $26,000. Founders Capital Management grew its position in Marathon Oil by 100.0% during the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 500 shares during the period. Highbridge Capital Management LLC purchased a new position in Marathon Oil in the second quarter valued at about $29,000. Grove Bank & Trust lifted its position in shares of Marathon Oil by 77.4% during the 2nd quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Marathon Oil during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Stock Performance

NYSE:MRO opened at $28.55 on Tuesday. Marathon Oil Co. has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The firm’s 50 day moving average is $27.66 and its two-hundred day moving average is $27.65. The company has a market cap of $15.97 billion, a P/E ratio of 12.25 and a beta of 2.16. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. Analysts expect that Marathon Oil Co. will post 2.34 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 given a dividend of $0.11 per share. The ex-dividend date is Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a yield of 1.54%. Marathon Oil’s dividend payout ratio (DPR) is 18.88%.

Insiders Place Their Bets

In other news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. This represents a 33.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lee M. Tillman sold 256,591 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $29.07, for a total transaction of $7,459,100.37. Following the completion of the transaction, the chief executive officer now owns 596,330 shares in the company, valued at $17,335,313.10. This represents a 30.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 382,693 shares of company stock worth $10,964,251 over the last ninety days. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. StockNews.com began coverage on Marathon Oil in a research report on Saturday. They set a “buy” rating on the stock. Barclays lowered their price objective on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Susquehanna reduced their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company dropped their price objective on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Finally, Piper Sandler dropped their price target on Marathon Oil from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.94.

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.