Marathon Oil Co. (NYSE:MRO) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. trimmed its holdings in shares of Marathon Oil Co. (NYSE:MROGet Rating) by 53.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,162 shares of the oil and gas producer’s stock after selling 20,550 shares during the period. Scotia Capital Inc.’s holdings in Marathon Oil were worth $408,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MRO. Wellington Management Group LLP grew its position in Marathon Oil by 1,220.4% in the 1st quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock valued at $219,828,000 after buying an additional 8,091,570 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 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. Arrowstreet Capital Limited Partnership lifted its position in shares of Marathon Oil by 3,527.3% in the first 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Marathon Oil by 922.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,043,561 shares of the oil and gas producer’s stock worth $45,939,000 after purchasing an additional 1,843,765 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Marathon Oil by 3,668.7% in the first quarter. Victory Capital Management Inc. now owns 1,890,724 shares of the oil and gas producer’s stock worth $47,406,000 after buying an additional 1,840,555 shares during the last quarter. Institutional investors own 75.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Bank of America lowered their price target on Marathon Oil from $28.00 to $25.00 and set an “underperform” rating on the stock in a report on Tuesday, July 19th. Mizuho lowered their price objective on shares of Marathon Oil from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. Jefferies Financial Group started coverage on Marathon Oil in a research report on Wednesday, October 19th. They issued a “hold” rating and a $30.00 target price for the company. Raymond James raised their target price on Marathon Oil from $35.00 to $37.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 24th. Finally, Barclays lifted their price objective on Marathon Oil from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, October 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.19.

Insider Buying and Selling

In related news, CFO Dane E. Whitehead sold 28,553 shares of Marathon Oil stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $22.61, for a total value of $645,583.33. Following the completion of the sale, the chief financial officer now directly owns 229,129 shares in the company, valued at $5,180,606.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Dane E. Whitehead sold 33,252 shares of Marathon Oil stock in a transaction dated 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 directly owns 257,682 shares in the company, valued at $6,702,308.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dane E. Whitehead sold 28,553 shares of Marathon Oil stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $22.61, for a total value of $645,583.33. Following the completion of the sale, the chief financial officer now owns 229,129 shares of the company’s stock, valued at $5,180,606.69. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

Marathon Oil Stock Performance

Marathon Oil stock opened at $33.03 on Tuesday. The stock has a 50-day simple moving average of $26.96 and a 200 day simple moving average of $25.81. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 0.32. Marathon Oil Co. has a 12-month low of $14.29 and a 12-month high of $33.42. The stock has a market capitalization of $23.38 billion, a price-to-earnings ratio of 6.34, a P/E/G ratio of 0.59 and a beta of 2.47.

Marathon Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, November 15th. Marathon Oil’s dividend payout ratio (DPR) is presently 6.14%.

Marathon Oil 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.

See Also

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.