Allianz Asset Management GmbH reduced its stake in shares of Marathon Oil Co. (NYSE:MRO – Get Rating) by 1.6% in Q3, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund held 2,066,373 shares of the oil and gas producer after selling 32,932 shares during the period. Allianz Asset Management GmbH owned 0.29% of Marathon Oil worth $46,659,000 at the end of the last quarter.
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Several other large investors have also recently changed their stock holdings. IFP Advisors Inc increased its stake in Marathon Oil shares by 1.5% in the third quarter. IFP Advisors Inc now owns 89,748 shares of the oil and gas producer worth $1,960,000 after buying an additional 1,294 shares in the last quarter. Rational Advisors LLC increased its equity stake in Marathon Oil by 6.1% during the third quarter. Rational Advisors LLC now owns 22,670 shares of the oil and gas producer worth $512,000 after buying 1,297 additional shares in the last quarter. Cambria Investment Management LP increased its stake in Marathon Oil shares by 14.6% during the third quarter. Cambria Investment Management LP now owns 249,919 shares of the oil and gas producer worth $5,643,000 after buying 31,889 additional shares in the last quarter. Apollon Wealth Management LLC increased its holdings in Marathon Oil by 56.7% in the third quarter. Apollon Wealth Management LLC now owns 20,981 shares of the oil and gas producer valued at $474,000 after purchasing an additional 7,591 shares during the period. Finally, Contrarius Investment Management Ltd purchased a new equity stake in Marathon Oil during Q3 for a value of $12,719,000. Hedge funds and other institutional investors own 77.30% of the company’s shares.
Analysts set new price targets
Several analysts have weighed in on the stock. Piper Sandler lowered her price target on Marathon Oil shares from $42.00 to $40.00 and set an “overweight” rating for the company in a Friday, Jan. 13 research note. Credit Suisse Group raised its price target on Marathon Oil shares from $30.00 to $32.00 and gave the company a “neutral” rating in a Thursday, Nov. 3 research report. Jefferies Financial Group launched coverage on Marathon Oil shares in a Wednesday, October 19 report. They issued a “hold” rating and a price target of $30.00 on the stock. Barclays raised its price target on Marathon Oil shares from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, December 7. Finally, Mizuho reiterated a “neutral” rating and published a target price of $32.00 on Marathon Oil shares in a research note on Tuesday, January 10. Two investment analysts have assigned the stock a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned the company’s stock a strong buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.88.
Marathon Oil Stock Performance
MRO opened at $26.03 on Monday. Marathon Oil Co. has a fifty-two week low of $19.42 and a fifty-two week high of $33.42. The company has a debt ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.08. The company has a fifty-day moving average of $27.45 and a 200-day moving average of $26.94. The stock has a market capitalization of $16.48 billion, a price/earnings ratio of 5.00, a PEG ratio of 0.31 and a beta of 2.40.
Marathon Oil increases its dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 10. Shareholders of record on Wednesday, February 15 will receive a dividend of $0.10 per share. The ex-dividend date is Tuesday, February 14. This represents an annualized dividend of $0.40 and a yield of 1.54%. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.09. Marathon Oil’s dividend payout ratio (DPR) is 6.91%.
Insider Buying and Selling at Marathon Oil
In other Marathon Oil news, Vice Chairman Michael A. Henderson sold 80,000 shares in a trade on Tuesday November 8th. The shares were sold at an average price of $32.56, for a total transaction of $2,604,800.00. Following the completion of the transaction, the vice president now owns 105,250 shares of the company, valued at $3,426,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Separately, CEO Lee M. Tillman sold 30,000 shares of the company in a trade dated Tuesday, November 8. The shares were sold at an average price of $32.56, for a total value of $976,800.00. Following the completion of the sale, the CEO now owns 916,219 shares of the company, valued at approximately $29,832,090.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, Vice Chairman Michael A. Henderson sold 80,000 shares of the company in a trade dated Tuesday, November 8. The stock was sold at an average price of $32.56, for a total transaction of $2,604,800.00. Following the completion of the sale, the vice president now owns 105,250 shares of the company, valued at approximately $3,426,940. The disclosure of this sale can be found here. 0.52% of the shares are held by insiders of the company.
Marathon Oil Company Profile
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Marathon Oil Corp. is engaged in the exploration, production and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (US) and International. The USA segment is engaged in the exploration, development and production of oil and gas in the United States
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Want to see which other hedge funds hold MROs? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Marathon Oil Co. (NYSE:MRO – Get Rating).
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