EverSource Wealth Advisors LLC Raises Position in Marathon Oil Co. (NYSE:MRO)

EverSource Wealth Advisors LLC raised its stake in shares of Marathon Oil Co. (NYSE:MROGet Rating) by 36.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,008 shares of the oil and gas producer’s stock after purchasing an additional 808 shares during the period. EverSource Wealth Advisors LLC’s holdings in Marathon Oil were worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MRO. State Street Corp grew its stake in Marathon Oil by 0.8% in the first quarter. State Street Corp now owns 48,341,531 shares of the oil and gas producer’s stock worth $1,213,856,000 after purchasing an additional 392,821 shares in the last quarter. Wellington Management Group LLP grew its stake in Marathon Oil by 1,220.4% in the first 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 in the last quarter. Fisher Asset Management LLC grew 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 worth $217,057,000 after purchasing an additional 119,762 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Marathon Oil by 60.1% in the first 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 in the last quarter. Finally, First Trust Advisors LP grew its stake in Marathon Oil by 35.3% in the first quarter. First Trust Advisors LP now owns 7,026,775 shares of the oil and gas producer’s stock worth $176,442,000 after purchasing an additional 1,835,182 shares in the last quarter. 75.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MRO shares. Citigroup cut Marathon Oil from a “buy” rating to a “neutral” rating and dropped their target price for the company from $31.00 to $24.00 in a research report on Friday, June 24th. 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 report on Friday, July 22nd. The Goldman Sachs Group dropped their target price on Marathon Oil from $29.00 to $25.00 and set a “sell” rating on the stock in a research report on Tuesday, July 5th. Morgan Stanley dropped their target price 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. Finally, Barclays dropped their target price on Marathon Oil from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.19.

Marathon Oil Stock Performance

Shares of MRO stock opened at $26.22 on Friday. The firm has a market capitalization of $18.56 billion, a price-to-earnings ratio of 6.21, a price-to-earnings-growth ratio of 0.38 and a beta of 2.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.18 and a quick ratio of 1.14. The business has a fifty day moving average of $24.01 and a 200 day moving average of $25.17. Marathon Oil Co. has a 1 year low of $11.22 and a 1 year high of $33.24.

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 paid 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 1.22%. Marathon Oil’s dividend payout ratio (DPR) is 7.58%.

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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