Fisher Asset Management LLC Has $76.81 Million Holdings in Marathon Oil Co. (NYSE:MRO)

Fisher Asset Management LLC increased its stake in shares of Marathon Oil Co. (NYSE:MRO) by 6.3% during the third quarter, HoldingsChannel.com reports. The fund owned 2,884,151 shares of the oil and gas producer’s stock after purchasing an additional 171,450 shares during the period. Fisher Asset Management LLC’s holdings in Marathon Oil were worth $76,805,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in Marathon Oil by 10.2% during the third 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 during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Marathon Oil by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,461,323 shares of the oil and gas producer’s stock worth $242,582,000 after buying an additional 328,184 shares during the period. LSV Asset Management grew its stake in Marathon Oil by 10.1% in the 2nd 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 last quarter. Charles Schwab Investment Management Inc. raised its holdings in Marathon Oil by 0.4% in the 3rd 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% during the 2nd quarter. Victory Capital Management Inc. now owns 2,786,956 shares of the oil and gas producer’s stock worth $79,902,000 after acquiring an additional 27,495 shares during the last quarter. 77.24% of the stock is owned by institutional investors.

Insider Activity at Marathon Oil

In related news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was 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 directly owns 76,828 shares of the company’s stock, valued at $2,090,489.88. This trade represents a 33.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $2,750,000. This represents a 34.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 382,693 shares of company stock valued at $10,964,251 in the last ninety days. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MRO. Susquehanna lowered their price target on Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company decreased their target price on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Piper Sandler dropped their price target on Marathon Oil from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Barclays reduced their price objective 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. Finally, StockNews.com began coverage on shares of Marathon Oil in a research report on Saturday. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.94.

Marathon Oil Price Performance

NYSE MRO opened at $28.55 on Tuesday. Marathon Oil Co. has a 1-year low of $21.81 and a 1-year high of $30.06. The company has a market capitalization of $15.97 billion, a price-to-earnings ratio of 12.25 and a beta of 2.16. The stock’s 50 day moving average is $27.66 and its two-hundred day moving average is $27.65. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40.

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

Marathon Oil Announces Dividend

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 given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, November 15th. Marathon Oil’s dividend payout ratio (DPR) is currently 18.88%.

About Marathon Oil

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.