Marathon Oil Co. (NYSE:MRO) Shares Sold by Fruth Investment Management

Fruth Investment Management trimmed its position in Marathon Oil Co. (NYSE:MRO) by 3.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,571 shares of the oil and gas producer’s stock after selling 2,004 shares during the period. Fruth Investment Management’s holdings in Marathon Oil were worth $1,506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MRO. HWG Holdings LP acquired a new position in shares of Marathon Oil in the 2nd quarter worth approximately $26,000. Riverview Trust Co acquired a new position in Marathon Oil in the first quarter worth $27,000. Benjamin Edwards Inc. increased its stake in Marathon Oil by 226.0% during the first quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 678 shares during the last quarter. Founders Capital Management raised its holdings in shares of Marathon Oil by 100.0% during the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 500 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in shares of Marathon Oil in the 2nd quarter worth about $29,000. 77.24% of the stock is owned by institutional investors.

Marathon Oil Stock Performance

Shares of NYSE MRO opened at $27.74 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 debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.57. The stock has a fifty day moving average price of $27.58 and a two-hundred day moving average price of $27.74. The firm has a market cap of $15.52 billion, a P/E ratio of 10.79 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. Marathon Oil’s revenue was up 12.8% on a year-over-year basis. Research analysts forecast that Marathon Oil Co. will post 2.53 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Oil’s payout ratio is 17.12%.

Insiders Place Their Bets

In other news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the completion of the sale, the insider now owns 100,000 shares in the company, valued at approximately $2,750,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Michael A. Henderson sold 38,000 shares of the business’s 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 sale, the vice president now owns 76,828 shares in the company, valued at $2,090,489.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at $2,750,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MRO. StockNews.com assumed coverage on shares of Marathon Oil in a research note on Monday. They set a “buy” rating on the stock. Piper Sandler increased their price target on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Truist Financial reduced their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Susquehanna dropped their target price 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. Finally, Citigroup lowered their price target on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Nine research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.12.

Marathon Oil 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.