Optimal Asset Management Inc. cut its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 52.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,849 shares of the oil and gas producer’s stock after selling 76,700 shares during the quarter. Optimal Asset Management Inc.’s holdings in Marathon Oil were worth $746,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in MRO. Vantage Consulting Group Inc bought a new position in shares of Marathon Oil during the fourth quarter worth approximately $25,000. Center for Financial Planning Inc. bought a new position in shares of Marathon Oil during the first quarter worth approximately $25,000. HWG Holdings LP bought a new position in Marathon Oil in the first quarter valued at approximately $34,000. Stonebridge Capital Advisors LLC bought a new position in Marathon Oil in the first quarter valued at approximately $34,000. Finally, Proffitt & Goodson Inc. increased its stake in Marathon Oil by 600.0% in the first quarter. Proffitt & Goodson Inc. now owns 3,500 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 3,000 shares during the last quarter. 68.76% of the stock is currently owned by institutional investors.
NYSE:MRO opened at $11.87 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $12.86. Marathon Oil Co. has a one year low of $3.73 and a one year high of $14.33.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.35%. This is an increase from Marathon Oil’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, May 18th. Marathon Oil’s dividend payout ratio is presently -13.79%.
A number of research analysts recently issued reports on the stock. Bank of America raised shares of Marathon Oil from an “underperform” rating to a “neutral” rating in a research note on Monday, June 21st. Citigroup lifted their price objective on shares of Marathon Oil from $12.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 13th. Royal Bank of Canada upgraded shares of Marathon Oil from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $14.00 to $18.00 in a research report on Thursday, June 10th. Siebert Williams Shank upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating in a research report on Thursday, May 13th. Finally, Truist raised their target price on shares of Marathon Oil from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, July 1st. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.79.
In other Marathon Oil news, CEO Lee M. Tillman sold 67,500 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $11.03, for a total value of $744,525.00. Also, insider Patrick Wagner sold 31,667 shares of the company’s stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $13.72, for a total transaction of $434,471.24. Following the completion of the sale, the insider now directly owns 263,959 shares of the company’s stock, valued at $3,621,517.48. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
Marathon Oil 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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