iA Global Asset Management Inc. Trims Stock Holdings in Marathon Oil Co. (NYSE:MRO)

iA Global Asset Management Inc. reduced its stake in shares of Marathon Oil Co. (NYSE:MRO) by 36.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,582 shares of the oil and gas producer’s stock after selling 44,137 shares during the period. iA Global Asset Management Inc.’s holdings in Marathon Oil were worth $2,199,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MRO. Riverview Trust Co acquired a new position in shares of Marathon Oil in the 1st quarter worth approximately $27,000. Benjamin Edwards Inc. increased its stake in Marathon Oil by 226.0% during the first quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 678 shares during the last quarter. Fortis Group Advisors LLC raised its holdings in shares of Marathon Oil by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 618 shares during the period. Manchester Capital Management LLC acquired a new position in shares of Marathon Oil in the 4th quarter valued at about $31,000. Finally, Scarborough Advisors LLC bought a new position in Marathon Oil in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MRO shares. Capital One Financial cut Marathon Oil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 5th. StockNews.com initiated coverage on shares of Marathon Oil in a report on Friday, July 26th. They issued a “buy” rating on the stock. Benchmark restated a “buy” rating and issued a $32.00 target price on shares of Marathon Oil in a research report on Friday, May 3rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 price target on shares of Marathon Oil in a research note on Wednesday, July 17th. Finally, Morgan Stanley increased their price objective on Marathon Oil from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Marathon Oil currently has an average rating of “Moderate Buy” and an average price target of $32.14.

Marathon Oil Stock Down 4.3 %

Marathon Oil stock traded down $1.18 during mid-day trading on Friday, hitting $26.23. The company’s stock had a trading volume of 3,793,717 shares, compared to its average volume of 9,101,919. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.55 and a quick ratio of 0.48. Marathon Oil Co. has a 52-week low of $21.81 and a 52-week high of $30.06. The firm’s 50 day moving average is $28.07 and its 200 day moving average is $26.47. The company has a market cap of $14.67 billion, a PE ratio of 11.10 and a beta of 2.19.

Marathon Oil (NYSE:MRO) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts anticipate that Marathon Oil Co. will post 2.79 earnings per share for the current year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.68%. The ex-dividend date is Wednesday, August 21st. Marathon Oil’s payout ratio is currently 18.18%.

Marathon Oil Company 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.