Cerity Partners LLC Acquires 9,368 Shares of Marathon Oil Co. (NYSE:MRO)

Cerity Partners LLC increased its holdings in shares of Marathon Oil Co. (NYSE:MROGet Rating) by 109.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,939 shares of the oil and gas producer’s stock after purchasing an additional 9,368 shares during the period. Cerity Partners LLC’s holdings in Marathon Oil were worth $399,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Washington Trust Advisors Inc. bought a new position in Marathon Oil during the first quarter worth about $25,000. Zullo Investment Group Inc. bought a new stake in shares of Marathon Oil during the first quarter worth approximately $30,000. CX Institutional bought a new stake in shares of Marathon Oil during the second quarter worth approximately $34,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Marathon Oil by 90.6% during the first quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 647 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Marathon Oil by 76.6% during the first quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 619 shares during the period. Institutional investors own 75.16% of the company’s stock.

Marathon Oil Stock Performance

NYSE MRO opened at $30.80 on Friday. The firm’s fifty day moving average price is $28.10 and its two-hundred day moving average price is $26.24. The stock has a market cap of $19.56 billion, a PE ratio of 5.91, a PEG ratio of 0.56 and a beta of 2.47. Marathon Oil Co. has a fifty-two week low of $14.29 and a fifty-two week high of $33.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.08.

Marathon Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Wednesday, November 16th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Tuesday, November 15th. This is a boost from Marathon Oil’s previous quarterly dividend of $0.08. Marathon Oil’s payout ratio is presently 6.91%.

Insiders Place Their Bets

In other Marathon Oil news, CEO Lee M. Tillman sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $32.56, for a total transaction of $976,800.00. Following the sale, the chief executive officer now owns 916,219 shares of the company’s stock, valued at $29,832,090.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Lee M. Tillman sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $32.56, for a total value of $976,800.00. Following the sale, the chief executive officer now owns 916,219 shares of the company’s stock, valued at $29,832,090.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Dane E. Whitehead sold 172,230 shares of the business’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $31.86, for a total transaction of $5,487,247.80. Following the completion of the sale, the chief financial officer now directly owns 205,870 shares in the company, valued at approximately $6,559,018.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 481,406 shares of company stock valued at $15,004,236. 0.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Mizuho reduced their price objective on Marathon Oil from $34.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, August 18th. Royal Bank of Canada boosted their price objective on Marathon Oil from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, November 7th. Piper Sandler boosted their price objective on Marathon Oil from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup boosted their price objective on Marathon Oil to $30.00 in a report on Thursday, October 27th. Finally, Morgan Stanley dropped their price target on shares of Marathon Oil from $28.00 to $27.00 and set an “equal weight” rating for the company in a research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.44.

Marathon Oil Profile

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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.

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

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