ClearAlpha Technologies LP Buys 132,919 Shares of Marathon Oil Co. (NYSE:MRO)

ClearAlpha Technologies LP increased its stake in Marathon Oil Co. (NYSE:MRO) by 65.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 337,535 shares of the oil and gas producer’s stock after purchasing an additional 132,919 shares during the quarter. Marathon Oil makes up 2.5% of ClearAlpha Technologies LP’s investment portfolio, making the stock its 5th largest holding. ClearAlpha Technologies LP owned about 0.06% of Marathon Oil worth $8,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MRO. HWG Holdings LP purchased a new stake in shares of Marathon Oil in the second quarter valued at $26,000. Founders Capital Management raised its position in Marathon Oil by 100.0% during the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 500 shares during the period. Highbridge Capital Management LLC purchased a new stake in Marathon Oil in the 2nd quarter worth about $29,000. Grove Bank & Trust boosted its position in Marathon Oil by 77.4% during the 2nd 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 period. Finally, Ashton Thomas Securities LLC purchased a new position in Marathon Oil during the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Stock Down 1.3 %

Shares of MRO stock opened at $28.55 on Monday. Marathon Oil Co. has a 12 month low of $21.81 and a 12 month high of $30.06. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The firm has a market cap of $15.97 billion, a PE ratio of 12.25 and a beta of 2.16. The stock has a 50 day moving average of $27.73 and a 200-day moving average of $27.71.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $1.79 billion for 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 quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. On average, equities analysts predict that Marathon Oil Co. will post 2.34 EPS for the current year.

Marathon Oil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.11 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 1.54%. Marathon Oil’s dividend payout ratio (DPR) is 18.88%.

Wall Street Analysts Forecast Growth

MRO has been the subject of several research reports. UBS Group decreased their price target on shares of Marathon Oil from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Citigroup dropped their price target on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Truist Financial reduced their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Mizuho cut their price target on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Scotiabank boosted their price target on Marathon Oil from $27.61 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marathon Oil has an average rating of “Moderate Buy” and an average price target of $30.94.

Insiders Place Their Bets

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

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.