Marathon Oil Co. (NYSE:MRO) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its position in Marathon Oil Co. (NYSE:MROGet Rating) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,293 shares of the oil and gas producer’s stock after selling 23,964 shares during the period. PNC Financial Services Group Inc.’s holdings in Marathon Oil were worth $6,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Marathon Oil by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,976,955 shares of the oil and gas producer’s stock valued at $213,073,000 after acquiring an additional 351,432 shares during the last quarter. Fisher Asset Management LLC increased its stake in Marathon Oil by 1.4% in the first quarter. Fisher Asset Management LLC now owns 8,644,260 shares of the oil and gas producer’s stock valued at $217,057,000 after purchasing an additional 119,762 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Marathon Oil by 14.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,835,662 shares of the oil and gas producer’s stock worth $79,401,000 after buying an additional 627,634 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Marathon Oil by 5.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,562,016 shares of the oil and gas producer’s stock worth $42,068,000 after acquiring an additional 142,898 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Marathon Oil by 131.0% in the first quarter. Pacer Advisors Inc. now owns 2,057,673 shares of the oil and gas producer’s stock valued at $51,668,000 after purchasing an additional 1,166,774 shares during the period. Hedge funds and other institutional investors own 75.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Barclays decreased their price target on shares of Marathon Oil from $35.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group reduced their price objective on Marathon Oil from $29.00 to $25.00 and set a “sell” rating on the stock in a research note on Tuesday, July 5th. Piper Sandler increased their target price on Marathon Oil from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, July 22nd. Finally, Morgan Stanley reduced their price target on Marathon Oil from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Monday, August 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.19.

Marathon Oil Price Performance

MRO opened at $25.71 on Friday. The company has a market capitalization of $18.19 billion, a P/E ratio of 5.91, a PEG ratio of 0.38 and a beta of 2.53. The company has a 50-day moving average of $23.10 and a 200-day moving average of $24.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.18. Marathon Oil Co. has a 1-year low of $11.02 and a 1-year high of $33.24.

Marathon Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, August 16th. Marathon Oil’s payout ratio is currently 7.58%.

Marathon Oil Profile

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Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

See Also

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Institutional Ownership by Quarter for Marathon Oil (NYSE:MRO)

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