Patrick Wagner Sells 36,094 Shares of Marathon Oil Co. (NYSE:MRO) Stock

Marathon Oil Co. (NYSE:MRO) insider Patrick Wagner sold 36,094 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $28.84, for a total transaction of $1,040,950.96. Following the completion of the transaction, the insider now directly owns 104,735 shares in the company, valued at approximately $3,020,557.40. This represents a 25.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Marathon Oil Trading Up 0.6 %

NYSE MRO opened at $28.92 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.69. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 12.41 and a beta of 2.16. The firm has a 50 day simple moving average of $27.52 and a 200-day simple moving average of $27.62. 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 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. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the business posted $0.77 earnings per share. Marathon Oil’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that Marathon Oil Co. will post 2.34 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.11 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 1.52%. Marathon Oil’s dividend payout ratio (DPR) is 18.88%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Scotiabank increased their price objective on shares of Marathon Oil from $27.61 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. Piper Sandler cut their price target on Marathon Oil from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their price objective on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Truist Financial cut their target price on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Mizuho lowered their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock 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 issued a strong buy rating to the stock. According to MarketBeat, Marathon Oil has a consensus rating of “Moderate Buy” and a consensus price target of $30.94.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL raised its holdings in shares of Marathon Oil by 5.5% in the 1st quarter. Blair William & Co. IL now owns 15,654 shares of the oil and gas producer’s stock valued at $444,000 after purchasing an additional 812 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in Marathon Oil by 487.8% in the first quarter. UniSuper Management Pty Ltd now owns 43,841 shares of the oil and gas producer’s stock valued at $1,242,000 after buying an additional 36,383 shares during the last quarter. Bessemer Group Inc. increased its holdings in Marathon Oil by 39.1% in the first quarter. Bessemer Group Inc. now owns 57,814 shares of the oil and gas producer’s stock valued at $1,639,000 after buying an additional 16,249 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in Marathon Oil by 173.1% in the first quarter. Lake Street Advisors Group LLC now owns 25,700 shares of the oil and gas producer’s stock valued at $728,000 after buying an additional 16,288 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Marathon Oil by 0.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 231,530 shares of the oil and gas producer’s stock worth $6,563,000 after buying an additional 2,062 shares during the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

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.