Brooklyn Investment Group Acquires New Position in Marathon Oil Co. (NYSE:MRO)

Brooklyn Investment Group purchased a new position in Marathon Oil Co. (NYSE:MRO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,808 shares of the oil and gas producer’s stock, valued at approximately $75,000.

Other institutional investors also recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in Marathon Oil in the second quarter worth approximately $26,000. Founders Capital Management lifted its stake in Marathon Oil by 100.0% in the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 500 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in Marathon Oil in the second quarter worth approximately $29,000. Grove Bank & Trust lifted its stake in Marathon Oil by 77.4% in the second quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 465 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Marathon Oil during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MRO shares. Wells Fargo & Company reduced their price objective on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. UBS Group reduced their price target on shares of Marathon Oil from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Mizuho reduced their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Truist Financial reduced their price target on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Barclays lowered their target price on Marathon Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.94.

Insiders Place Their Bets

In other news, insider Patrick Wagner sold 36,094 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $28.84, for a total transaction of $1,040,950.96. Following the sale, the insider now directly owns 104,735 shares of the company’s stock, valued at $3,020,557.40. This represents a 25.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lee M. Tillman sold 256,591 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $29.07, for a total transaction of $7,459,100.37. Following the sale, the chief executive officer now directly owns 596,330 shares in the company, valued at $17,335,313.10. This trade represents a 30.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 382,693 shares of company stock valued at $10,964,251. 0.35% of the stock is currently owned by insiders.

Marathon Oil Stock Performance

Shares of NYSE MRO opened at $28.55 on Friday. The business’s 50-day moving average price is $27.72 and its two-hundred day moving average price is $27.68. Marathon Oil Co. has a one year low of $21.81 and a one year high of $30.06. The company has a market capitalization of $15.97 billion, a P/E ratio of 12.25 and a beta of 2.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.61.

Marathon Oil (NYSE:MRO) last released its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. Analysts anticipate that Marathon Oil Co. will post 2.34 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a yield of 1.54%. Marathon Oil’s payout ratio is currently 18.88%.

About Marathon Oil

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.