Kingsview Wealth Management LLC Purchases 64,369 Shares of Marathon Oil Co. (NYSE:MRO)

Kingsview Wealth Management LLC boosted its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 560.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 75,864 shares of the oil and gas producer’s stock after purchasing an additional 64,369 shares during the period. Kingsview Wealth Management LLC’s holdings in Marathon Oil were worth $2,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Marathon Oil by 10.2% during the 3rd quarter. Pacer Advisors Inc. now owns 14,727,190 shares of the oil and gas producer’s stock valued at $392,185,000 after purchasing an additional 1,357,369 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Marathon Oil by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,461,323 shares of the oil and gas producer’s stock valued at $242,582,000 after buying an additional 328,184 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Marathon Oil by 10.1% in the second quarter. LSV Asset Management now owns 6,443,713 shares of the oil and gas producer’s stock valued at $184,741,000 after buying an additional 593,100 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Marathon Oil by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,267,506 shares of the oil and gas producer’s stock worth $140,274,000 after acquiring an additional 19,566 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Marathon Oil by 1.0% in the 2nd quarter. Victory Capital Management Inc. now owns 2,786,956 shares of the oil and gas producer’s stock valued at $79,902,000 after acquiring an additional 27,495 shares in the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MRO shares. Susquehanna lowered their target price on Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Citigroup dropped their target price on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Barclays reduced their price target on Marathon Oil from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company cut their price objective on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Finally, Mizuho decreased their target price on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.94.

Insider Activity at Marathon Oil

In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $28.84, for a total transaction of $1,040,950.96. Following the transaction, the insider now owns 104,735 shares in the company, valued at $3,020,557.40. This represents a 25.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the sale, the vice president now owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The trade was a 33.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 382,693 shares of company stock worth $10,964,251 in the last ninety days. 0.35% of the stock is owned by company insiders.

Marathon Oil Price Performance

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

Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the firm earned $0.77 EPS. The business’s revenue was down 1.2% on a year-over-year basis. Equities analysts expect that Marathon Oil Co. will post 2.34 earnings per share for the current year.

Marathon Oil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 1.54%. Marathon Oil’s payout ratio is currently 18.88%.

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.