iA Global Asset Management Inc. Lowers Position in Marathon Oil Co. (NYSE:MRO)

iA Global Asset Management Inc. lowered its position in shares of Marathon Oil Co. (NYSE:MRO) by 36.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 77,582 shares of the oil and gas producer’s stock after selling 44,137 shares during the period. iA Global Asset Management Inc.’s holdings in Marathon Oil were worth $2,199,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Marathon Oil during the 1st quarter valued at about $27,000. Benjamin Edwards Inc. lifted its holdings in shares of 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. Fortis Group Advisors LLC boosted its position in shares of Marathon Oil by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 618 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in shares of Marathon Oil in the 4th quarter worth approximately $31,000. Finally, Scarborough Advisors LLC bought a new position in Marathon Oil during the 4th quarter valued at approximately $35,000. Institutional investors own 77.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial cut their target price on Marathon Oil from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Morgan Stanley increased their price objective on shares of Marathon Oil from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Barclays initiated coverage on shares of Marathon Oil in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $35.00 target price on the stock. Piper Sandler raised their price target on shares of Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, StockNews.com began coverage on Marathon Oil in a research report on Friday, July 26th. They issued a “buy” rating on the stock. 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. According to MarketBeat, Marathon Oil currently has a consensus rating of “Moderate Buy” and an average target price of $32.14.

Marathon Oil Stock Performance

MRO traded down $1.18 during midday trading on Friday, reaching $26.23. The company had a trading volume of 3,793,717 shares, compared to its average volume of 9,101,919. The business has a 50-day moving average of $28.07 and a two-hundred day moving average of $26.47. The company has a market cap of $14.67 billion, a P/E ratio of 11.10 and a beta of 2.19. Marathon Oil Co. has a 1 year low of $21.81 and a 1 year high of $30.06. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 0.41.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. As a group, equities research analysts predict that Marathon Oil Co. will post 2.79 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. Marathon Oil’s dividend payout ratio is presently 18.18%.

Marathon Oil Company 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.