Marathon Oil Co. (NYSE:MRO) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Marathon Oil Co. (NYSE:MROGet Rating) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,265,693 shares of the oil and gas producer’s stock after acquiring an additional 99,207 shares during the period. Rhumbline Advisers owned about 0.18% of Marathon Oil worth $28,453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Washington Trust Advisors Inc. acquired a new stake in shares of Marathon Oil during the 1st quarter valued at approximately $25,000. Zullo Investment Group Inc. bought a new position in Marathon Oil during the 1st quarter worth $30,000. Brown Brothers Harriman & Co. grew its stake in Marathon Oil by 90.6% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 647 shares during the last quarter. Covestor Ltd grew its stake in Marathon Oil by 76.6% during the 1st quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 619 shares during the last quarter. Finally, High Net Worth Advisory Group LLC grew its stake in Marathon Oil by 50.0% during the 1st quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the oil and gas producer’s stock worth $38,000 after buying an additional 500 shares during the last quarter. 75.16% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marathon Oil news, VP Michael A. Henderson sold 80,000 shares of Marathon Oil stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $32.56, for a total transaction of $2,604,800.00. Following the transaction, the vice president now directly owns 105,250 shares in the company, valued at $3,426,940. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Michael A. Henderson sold 80,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $32.56, for a total value of $2,604,800.00. Following the sale, the vice president now directly owns 105,250 shares in the company, valued at $3,426,940. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rob L. White sold 2,000 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $32.31, for a total value of $64,620.00. Following the completion of the sale, the chief accounting officer now owns 41,377 shares in the company, valued at $1,336,890.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 481,406 shares of company stock worth $15,004,236. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MRO shares. Jefferies Financial Group assumed coverage on Marathon Oil in a research note on Wednesday, October 19th. They set a “hold” rating and a $30.00 price objective for the company. Credit Suisse Group upped their price objective on Marathon Oil from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 3rd. Raymond James upped their price objective on Marathon Oil from $35.00 to $37.00 and gave the company a “strong-buy” rating in a report on Monday, October 24th. Mizuho reduced their target price on Marathon Oil from $34.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, August 18th. Finally, Piper Sandler upped their target price on Marathon Oil from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday, November 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Marathon Oil currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.75.

Marathon Oil Stock Down 1.7 %

Shares of Marathon Oil stock opened at $30.65 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 0.32. Marathon Oil Co. has a 12 month low of $14.29 and a 12 month high of $33.42. The business has a fifty day simple moving average of $28.32 and a 200 day simple moving average of $26.30. The stock has a market cap of $19.46 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 0.56 and a beta of 2.47.

Marathon Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Wednesday, November 16th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, November 15th. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.17%. Marathon Oil’s payout ratio is currently 6.91%.

About Marathon Oil

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Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. 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.

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Institutional Ownership by Quarter for Marathon Oil (NYSE:MRO)

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