Lake Street Advisors Group LLC Raises Position in Marathon Oil Co. (NYSE:MRO)

Lake Street Advisors Group LLC increased its stake in shares of Marathon Oil Co. (NYSE:MRO) by 173.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 25,700 shares of the oil and gas producer’s stock after acquiring an additional 16,288 shares during the period. Lake Street Advisors Group LLC’s holdings in Marathon Oil were worth $728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Trust N.A. boosted its stake in shares of Marathon Oil by 9.6% in the fourth quarter. Raymond James Trust N.A. now owns 20,390 shares of the oil and gas producer’s stock valued at $493,000 after purchasing an additional 1,788 shares during the period. HB Wealth Management LLC lifted its holdings in Marathon Oil by 15.8% in the 4th quarter. HB Wealth Management LLC now owns 13,405 shares of the oil and gas producer’s stock worth $324,000 after buying an additional 1,829 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Marathon Oil in the 4th quarter worth $302,000. Tributary Capital Management LLC lifted its holdings in Marathon Oil by 16.9% in the 4th quarter. Tributary Capital Management LLC now owns 27,668 shares of the oil and gas producer’s stock worth $668,000 after buying an additional 4,003 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Marathon Oil by 13.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,369,658 shares of the oil and gas producer’s stock worth $57,251,000 after buying an additional 280,971 shares in the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Marathon Oil Stock Performance

Shares of NYSE:MRO traded up $0.07 during trading on Thursday, reaching $27.93. 1,047,529 shares of the company’s stock traded hands, compared to its average volume of 9,240,805. Marathon Oil Co. has a 12 month low of $21.81 and a 12 month high of $30.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.55 and a quick ratio of 0.48. The stock has a market capitalization of $15.75 billion, a P/E ratio of 11.52 and a beta of 2.19. The company has a 50 day moving average of $27.88 and a 200-day moving average of $26.30.

Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. Marathon Oil’s quarterly revenue was down 7.7% on a year-over-year basis. On average, equities analysts expect that Marathon Oil Co. will post 2.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MRO shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $29.00 price objective (down previously from $38.00) on shares of Marathon Oil in a report on Friday, May 31st. Mizuho boosted their price objective on shares of Marathon Oil from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $33.00 price objective on shares of Marathon Oil in a report on Wednesday, July 17th. Piper Sandler upped their target price on shares of Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Susquehanna upped their target price on shares of Marathon Oil from $33.00 to $39.00 and gave the company a “positive” rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Marathon Oil presently has an average rating of “Moderate Buy” and an average price target of $32.14.

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.