Highland Capital Management LLC Cuts Stake in Marathon Oil Co. (NYSE:MRO)

Highland Capital Management LLC decreased its holdings in Marathon Oil Co. (NYSE:MRO) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,901 shares of the oil and gas producer’s stock after selling 5,995 shares during the period. Highland Capital Management LLC’s holdings in Marathon Oil were worth $2,873,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Spirit of America Management Corp NY increased its holdings in Marathon Oil by 1.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 97,273 shares of the oil and gas producer’s stock worth $2,590,000 after purchasing an additional 1,000 shares during the period. Impact Partnership Wealth LLC acquired a new position in shares of Marathon Oil during the third quarter worth about $296,000. International Assets Investment Management LLC increased its stake in shares of Marathon Oil by 3,253.2% during the third quarter. International Assets Investment Management LLC now owns 179,362 shares of the oil and gas producer’s stock worth $4,776,000 after buying an additional 174,013 shares during the period. McAdam LLC raised its holdings in Marathon Oil by 6.8% in the third quarter. McAdam LLC now owns 7,995 shares of the oil and gas producer’s stock valued at $213,000 after acquiring an additional 508 shares in the last quarter. Finally, Waldron Private Wealth LLC lifted its stake in Marathon Oil by 17.5% in the third quarter. Waldron Private Wealth LLC now owns 8,616 shares of the oil and gas producer’s stock worth $229,000 after acquiring an additional 1,281 shares during the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Marathon Oil Stock Performance

Shares of MRO stock opened at $26.46 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 10.30 and a beta of 2.16. The stock has a 50 day simple moving average of $27.42 and a 200-day simple moving average of $27.60.

Marathon Oil (NYSE:MRO) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. Marathon Oil’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. On average, equities analysts forecast that Marathon Oil Co. will post 2.43 EPS for the current year.

Marathon Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.66%. Marathon Oil’s payout ratio is 17.12%.

Insider Transactions at Marathon Oil

In related news, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction 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 sale, the insider now owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MRO. StockNews.com assumed coverage on shares of Marathon Oil in a report on Tuesday, October 22nd. They issued a “buy” rating on the stock. Scotiabank lifted their price target on shares of Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price objective on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Truist Financial reduced their target price on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Citigroup dropped their price target on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.