Empowered Funds LLC Has $6.45 Million Stock Position in Marathon Oil Co. (NYSE:MRO)

Empowered Funds LLC reduced its position in Marathon Oil Co. (NYSE:MRO) by 49.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 242,247 shares of the oil and gas producer’s stock after selling 233,569 shares during the period. Empowered Funds LLC’s holdings in Marathon Oil were worth $6,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. HWG Holdings LP acquired a new stake in Marathon Oil in the second quarter valued at approximately $26,000. Founders Capital Management raised its holdings in shares of Marathon Oil by 100.0% during the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 500 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Marathon Oil in the 2nd quarter valued at $29,000. Grove Bank & Trust increased its position in Marathon Oil by 77.4% during the second quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Marathon Oil during the third quarter valued at about $36,000. 77.24% of the stock is owned by hedge funds and other institutional investors.

Marathon Oil Stock Performance

Shares of NYSE MRO opened at $28.59 on Friday. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 12.27 and a beta of 2.16. Marathon Oil Co. has a one year low of $21.81 and a one year high of $30.06. The business has a fifty day simple moving average of $27.36 and a 200 day simple moving average of $27.56. 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 released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. Sell-side analysts expect that Marathon Oil Co. will post 2.36 EPS for the current year.

Marathon Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, November 15th. Marathon Oil’s payout ratio is 18.88%.

Analyst Ratings Changes

Several research firms have recently issued reports on MRO. Scotiabank upped their price target on Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 10th. UBS Group lowered their price target on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Susquehanna reduced their price objective on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company lowered their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Finally, Truist Financial cut their target price on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.12.

Insider Activity

In related news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction dated Wednesday, September 18th. The shares were 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 $2,750,000. This trade represents a 34.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. This trade represents a 33.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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.