Meyer Handelman Co. Sells 11,050 Shares of Marathon Oil Co. (NYSE:MRO)

Meyer Handelman Co. trimmed its holdings in Marathon Oil Co. (NYSE:MRO) by 4.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228,530 shares of the oil and gas producer’s stock after selling 11,050 shares during the period. Meyer Handelman Co.’s holdings in Marathon Oil were worth $6,086,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MRO. Vanguard Group Inc. lifted its holdings in shares of Marathon Oil by 9.9% during the first quarter. Vanguard Group Inc. now owns 75,751,369 shares of the oil and gas producer’s stock worth $2,146,794,000 after buying an additional 6,835,604 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Marathon Oil by 13.1% during the second quarter. Pacer Advisors Inc. now owns 13,369,821 shares of the oil and gas producer’s stock valued at $383,313,000 after buying an additional 1,552,210 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Marathon Oil by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,461,323 shares of the oil and gas producer’s stock valued at $242,582,000 after buying an additional 328,184 shares during the period. LSV Asset Management grew its position in Marathon Oil by 10.1% during the second quarter. LSV Asset Management now owns 6,443,713 shares of the oil and gas producer’s stock worth $184,741,000 after buying an additional 593,100 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Marathon Oil by 1.0% during the second quarter. Victory Capital Management Inc. now owns 2,786,956 shares of the oil and gas producer’s stock valued at $79,902,000 after acquiring an additional 27,495 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Stock Performance

Shares of MRO stock opened at $28.06 on Friday. Marathon Oil Co. has a one year low of $21.81 and a one year high of $30.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. The stock has a market cap of $15.70 billion, a P/E ratio of 10.92 and a beta of 2.16. The company has a fifty day moving average price of $27.55 and a two-hundred day moving average price of $27.74.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.06). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the company earned $0.48 earnings per share. Marathon Oil’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that Marathon Oil Co. will post 2.53 EPS for the current year.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.57%. Marathon Oil’s payout ratio is presently 17.12%.

Insider Transactions at Marathon Oil

In other news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction 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 transaction, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 76,828 shares in the company, valued at $2,090,489.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction that occurred 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 sale, the insider now owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MRO. UBS Group dropped their price objective on shares of Marathon Oil from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Scotiabank boosted their price target on Marathon Oil from $27.61 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday. Truist Financial cut their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Susquehanna decreased their price objective on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Marathon Oil currently has an average rating of “Moderate Buy” and an average target price 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.