Mirae Asset Global Investments Co. Ltd. Has $1.18 Million Position in Marathon Oil Co. (NYSE:MRO)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 28.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,381 shares of the oil and gas producer’s stock after acquiring an additional 9,752 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Marathon Oil were worth $1,175,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MRO. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Marathon Oil by 19.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 715,772 shares of the oil and gas producer’s stock valued at $20,285,000 after buying an additional 117,061 shares in the last quarter. Comerica Bank boosted its position in Marathon Oil by 15.0% in the first quarter. Comerica Bank now owns 172,258 shares of the oil and gas producer’s stock valued at $4,882,000 after buying an additional 22,526 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Marathon Oil in the second quarter valued at about $6,673,000. Vanguard Group Inc. boosted its position in Marathon Oil by 9.9% in the first quarter. Vanguard Group Inc. now owns 75,751,369 shares of the oil and gas producer’s stock valued at $2,146,794,000 after buying an additional 6,835,604 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Marathon Oil by 36.7% in the first quarter. Sei Investments Co. now owns 535,994 shares of the oil and gas producer’s stock valued at $15,193,000 after buying an additional 143,912 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on MRO. Mizuho reduced their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Piper Sandler boosted their price target on shares of Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Citigroup reduced their price target on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company reduced their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Finally, Susquehanna reduced their target price on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.12.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the sale, the vice president now owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. This represents 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 other news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 owns 100,000 shares of the company’s stock, valued at $2,750,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Marathon Oil Trading Down 1.6 %

MRO opened at $27.27 on Friday. 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 company has a market cap of $15.25 billion, a price-to-earnings ratio of 10.61 and a beta of 2.16. The firm has a 50 day simple moving average of $27.29 and a 200 day simple moving average of $27.51. Marathon Oil Co. has a fifty-two week low of $21.81 and a fifty-two week high of $30.06.

Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS 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 firm 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 posted $0.48 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Oil Co. will post 2.41 earnings per share for the current year.

Marathon Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Friday, November 15th. Marathon Oil’s payout ratio is presently 17.12%.

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.