Everence Capital Management Inc. Makes New $1.15 Million Investment in Marathon Oil Co. (NYSE:MRO)

Everence Capital Management Inc. bought a new position in Marathon Oil Co. (NYSE:MRO) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 43,090 shares of the oil and gas producer’s stock, valued at approximately $1,147,000.

Several other institutional investors have also modified their holdings of MRO. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Marathon Oil by 19.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 715,772 shares of the oil and gas producer’s stock valued at $20,285,000 after purchasing an additional 117,061 shares during the last quarter. Comerica Bank increased its stake in Marathon Oil by 15.0% during the first quarter. Comerica Bank now owns 172,258 shares of the oil and gas producer’s stock worth $4,882,000 after acquiring an additional 22,526 shares during the last quarter. Signet Financial Management LLC raised its position in Marathon Oil by 51.6% in the first quarter. Signet Financial Management LLC now owns 77,646 shares of the oil and gas producer’s stock valued at $2,200,000 after purchasing an additional 26,442 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Marathon Oil in the 2nd quarter valued at $6,673,000. Finally, Vanguard Group Inc. increased its position in shares of Marathon Oil by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 75,751,369 shares of the oil and gas producer’s stock worth $2,146,794,000 after purchasing an additional 6,835,604 shares during the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Marathon Oil Stock Down 0.1 %

Shares of NYSE MRO traded down $0.04 during midday trading on Monday, hitting $26.68. 1,582,275 shares of the company’s stock were exchanged, compared to its average volume of 8,173,528. The firm’s fifty day simple moving average is $27.56 and its 200-day simple moving average is $27.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. The company has a market cap of $14.92 billion, a PE ratio of 10.40 and a beta of 2.16. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Research analysts predict that Marathon Oil Co. will post 2.52 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a dividend of $0.11 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a yield of 1.65%. Marathon Oil’s dividend payout ratio is presently 17.12%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Marathon Oil in a research note on Monday, October 14th. They set a “buy” rating for the company. Citigroup cut their target price on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. UBS Group lowered their price target on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Piper Sandler increased their target price on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Mizuho dropped their target price on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Oil currently has a consensus rating of “Moderate Buy” and an average target price of $31.12.

Insiders Place Their Bets

In other news, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at $2,750,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the transaction, the insider now owns 100,000 shares in the company, valued at $2,750,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the transaction, the vice president now owns 76,828 shares in the company, valued at $2,090,489.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

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.