OLD Point Trust & Financial Services N A trimmed its holdings in shares of Marathon Oil Co. (NYSE:MRO) by 15.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,433 shares of the oil and gas producer’s stock after selling 26,400 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Marathon Oil were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. AdvisorNet Financial Inc grew its position in Marathon Oil by 800.0% during the second quarter. AdvisorNet Financial Inc now owns 4,500 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 4,000 shares in the last quarter. Atticus Wealth Management LLC purchased a new position in Marathon Oil during the second quarter worth about $34,000. Clarius Group LLC purchased a new position in Marathon Oil during the third quarter worth about $42,000. Resources Investment Advisors LLC. purchased a new position in shares of Marathon Oil in the 3rd quarter worth about $47,000. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Marathon Oil by 324.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 9,347 shares of the oil and gas producer’s stock worth $57,000 after purchasing an additional 7,147 shares in the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.
A number of equities analysts have recently issued reports on MRO shares. Piper Sandler upped their price objective on Marathon Oil from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Credit Suisse Group started coverage on Marathon Oil in a report on Tuesday, August 4th. They issued a “hold” rating and a $6.00 price objective for the company. Scotiabank cut their price objective on Marathon Oil from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, July 13th. TheStreet cut Marathon Oil from a “c-” rating to a “d” rating in a report on Wednesday, August 5th. Finally, Morgan Stanley cut their price objective on Marathon Oil from $5.50 to $4.50 and set an “underweight” rating for the company in a report on Monday, October 19th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the company. Marathon Oil has a consensus rating of “Hold” and an average target price of $7.93.
Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.02. The business had revenue of $272.00 million during the quarter, compared to analyst estimates of $530.54 million. Marathon Oil had a negative return on equity of 3.67% and a negative net margin of 16.03%. Sell-side analysts forecast that Marathon Oil Co. will post -1.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Tuesday, November 17th.
About Marathon Oil
Marathon Oil Corporation operates as an independent exploration and production company in the United States and Equatorial Guinea. 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, as well as owns and operates 32 central gathering and treating facilities and the Sugarloaf gathering system, a 42-mile natural gas pipeline through Karnes and Atascosa Counties.
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