Mackenzie Financial Corp Decreases Stock Holdings in Marathon Oil Co. (NYSE:MRO)

Mackenzie Financial Corp trimmed its holdings in Marathon Oil Co. (NYSE:MRO) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,657 shares of the oil and gas producer’s stock after selling 9,296 shares during the quarter. Mackenzie Financial Corp’s holdings in Marathon Oil were worth $1,562,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Smithfield Trust Co lifted its stake in Marathon Oil by 367.9% in the 3rd quarter. Smithfield Trust Co now owns 1,020 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 802 shares in the last quarter. NBC Securities Inc. purchased a new position in Marathon Oil in the 3rd quarter worth approximately $27,000. Anchor Investment Management LLC purchased a new position in Marathon Oil in the 4th quarter worth approximately $37,000. Central Bank & Trust Co. purchased a new position in Marathon Oil in the 4th quarter worth approximately $41,000. Finally, Planned Solutions Inc. purchased a new position in Marathon Oil in the 4th quarter worth approximately $58,000. 77.24% of the stock is owned by hedge funds and other institutional investors.

Marathon Oil Stock Up 0.6 %

Shares of NYSE MRO opened at $27.82 on Wednesday. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of 10.87 and a beta of 2.22. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 0.30. Marathon Oil Co. has a 52-week low of $21.63 and a 52-week high of $30.06. The business’s 50 day moving average is $26.44 and its two-hundred day moving average is $25.40.

Marathon Oil (NYSE:MRO) last announced its earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Marathon Oil had a return on equity of 14.09% and a net margin of 23.20%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 earnings per share. Research analysts predict that Marathon Oil Co. will post 2.76 EPS for the current year.

Marathon Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st were paid a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.58%. Marathon Oil’s dividend payout ratio (DPR) is 17.19%.

Analyst Upgrades and Downgrades

MRO has been the topic of a number of research reports. Argus raised shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Thursday, March 14th. Raymond James reduced their price target on shares of Marathon Oil from $35.00 to $32.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Susquehanna reaffirmed a “positive” rating and set a $33.00 price target on shares of Marathon Oil in a research report on Monday. Truist Financial lifted their price target on shares of Marathon Oil from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Benchmark reaffirmed a “buy” rating and set a $32.00 price target on shares of Marathon Oil in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.66.

Insiders Place Their Bets

In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total value of $997,999.10. Following the completion of the transaction, the insider now owns 140,829 shares in the company, valued at $3,893,921.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Patrick Wagner sold 36,094 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total transaction of $997,999.10. Following the completion of the transaction, the insider now owns 140,829 shares in the company, valued at $3,893,921.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Lee M. Tillman sold 80,647 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $26.94, for a total transaction of $2,172,630.18. Following the transaction, the chief executive officer now owns 596,330 shares of the company’s stock, valued at approximately $16,065,130.20. The disclosure for this sale can be found here. Insiders sold a total of 281,332 shares of company stock worth $7,644,903 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Marathon Oil Profile

Marathon Oil Corporation, an independent exploration and production company, engages in exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas in the United States and internationally. The company also produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol.