Meyer Handelman Co. Has $6.24 Million Position in Marathon Oil Co. (NYSE:MRO)

Meyer Handelman Co. lowered its holdings in Marathon Oil Co. (NYSE:MROGet Rating) by 7.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 277,700 shares of the oil and gas producer’s stock after selling 23,900 shares during the quarter. Meyer Handelman Co.’s holdings in Marathon Oil were worth $6,243,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Marathon Oil by 1,220.4% during the 1st quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock worth $219,828,000 after purchasing an additional 8,091,570 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Marathon Oil by 60.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,739,802 shares of the oil and gas producer’s stock worth $194,346,000 after purchasing an additional 2,904,140 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Marathon Oil by 3,527.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,735,575 shares of the oil and gas producer’s stock worth $68,690,000 after purchasing an additional 2,660,158 shares during the period. Victory Capital Management Inc. raised its stake in shares of Marathon Oil by 3,668.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,890,724 shares of the oil and gas producer’s stock worth $47,406,000 after purchasing an additional 1,840,555 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in Marathon Oil in the 1st quarter worth about $46,084,000. Institutional investors and hedge funds own 75.16% of the company’s stock.

Marathon Oil Price Performance

NYSE:MRO traded down $2.57 during mid-day trading on Friday, reaching $22.02. The stock had a trading volume of 643,659 shares, compared to its average volume of 13,014,417. The firm has a 50 day moving average price of $24.38 and a two-hundred day moving average price of $25.20. The stock has a market capitalization of $15.58 billion, a P/E ratio of 5.30, a P/E/G ratio of 0.36 and a beta of 2.48. Marathon Oil Co. has a one year low of $11.99 and a one year high of $33.24. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were given a $0.08 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.45%. Marathon Oil’s payout ratio is 7.58%.

Insider Buying and Selling

In other Marathon Oil news, CFO Dane E. Whitehead sold 33,252 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $26.01, for a total value of $864,884.52. Following the completion of the sale, the chief financial officer now owns 257,682 shares in the company, valued at $6,702,308.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MRO has been the subject of several recent research reports. Barclays decreased their price objective on Marathon Oil from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, August 31st. Bank of America decreased their price objective on Marathon Oil from $28.00 to $25.00 and set an “underperform” rating for the company in a report on Tuesday, July 19th. Piper Sandler lifted their price objective on Marathon Oil from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, July 22nd. Morgan Stanley decreased their price objective on Marathon Oil from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, August 29th. Finally, StockNews.com raised Marathon Oil from a “hold” rating to a “buy” rating in a report on Thursday, September 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.38.

Marathon Oil Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding MRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Oil Co. (NYSE:MROGet Rating).

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

Receive News & Ratings for Marathon Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Oil and related companies with MarketBeat.com's FREE daily email newsletter.