Belpointe Asset Management LLC Takes Position in Marathon Oil Co. (NYSE:MRO)

Belpointe Asset Management LLC acquired a new stake in shares of Marathon Oil Co. (NYSE:MROGet Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,053 shares of the oil and gas producer’s stock, valued at approximately $102,000.

Other hedge funds also recently made changes to their positions in the company. Tsfg LLC purchased a new stake in shares of Marathon Oil during the first quarter valued at approximately $31,000. Allegheny Financial Group LTD acquired a new stake in shares of Marathon Oil during the fourth quarter worth approximately $34,000. HWG Holdings LP acquired a new stake in shares of Marathon Oil during the fourth quarter worth approximately $36,000. GHP Investment Advisors Inc. acquired a new stake in shares of Marathon Oil during the first quarter worth approximately $42,000. Finally, Harbor Investment Advisory LLC grew its position in shares of Marathon Oil by 138.9% during the first quarter. Harbor Investment Advisory LLC now owns 1,720 shares of the oil and gas producer’s stock worth $43,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 79.19% of the company’s stock.

Insider Activity at Marathon Oil

In related news, CFO Dane E. Whitehead sold 30,291 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $28.03, for a total value of $849,056.73. Following the completion of the sale, the chief financial officer now owns 290,934 shares of the company’s stock, valued at approximately $8,154,880.02. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Dane E. Whitehead sold 79,711 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $28.18, for a total value of $2,246,255.98. Following the completion of the sale, the chief financial officer now owns 321,225 shares of the company’s stock, valued at approximately $9,052,120.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dane E. Whitehead sold 30,291 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $28.03, for a total value of $849,056.73. Following the completion of the sale, the chief financial officer now owns 290,934 shares of the company’s stock, valued at $8,154,880.02. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Marathon Oil Price Performance

Shares of Marathon Oil stock opened at $21.75 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $25.73 and its two-hundred day moving average price is $23.98. Marathon Oil Co. has a 52 week low of $10.41 and a 52 week high of $33.24. The stock has a market cap of $15.39 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 0.30 and a beta of 2.61.

Marathon Oil (NYSE:MROGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $1.02 EPS for the quarter, topping the consensus estimate of $0.98 by $0.04. Marathon Oil had a net margin of 35.01% and a return on equity of 16.78%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the business earned $0.21 earnings per share. Marathon Oil’s revenue for the quarter was up 63.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Oil Co. will post 5.07 EPS for the current fiscal year.

Marathon Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Wednesday, May 18th were paid a $0.08 dividend. This is a boost from Marathon Oil’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, May 17th. This represents a $0.32 annualized dividend and a dividend yield of 1.47%. Marathon Oil’s payout ratio is presently 11.15%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Marathon Oil from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 30th. Truist Financial lifted their price objective on shares of Marathon Oil from $34.00 to $41.00 in a report on Thursday, April 21st. The Goldman Sachs Group decreased their price objective on shares of Marathon Oil from $29.00 to $25.00 and set a “sell” rating for the company in a report on Tuesday, July 5th. Susquehanna Bancshares raised shares of Marathon Oil from a “neutral” rating to a “positive” rating and set a $32.00 price objective for the company in a report on Monday, April 25th. Finally, Susquehanna raised shares of Marathon Oil from a “neutral” rating to a “positive” rating and set a $32.00 price objective for the company in a report on Monday, April 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.88.

About Marathon Oil

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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.

Further Reading

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

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