HB Wealth Management LLC Has $354,000 Stake in Marathon Oil Co. (NYSE:MRO)

HB Wealth Management LLC cut its position in Marathon Oil Co. (NYSE:MRO) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,496 shares of the oil and gas producer’s stock after selling 909 shares during the quarter. HB Wealth Management LLC’s holdings in Marathon Oil were worth $354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Oak Thistle LLC acquired a new position in Marathon Oil during the 4th quarter worth approximately $1,440,000. Victory Capital Management Inc. grew its holdings in Marathon Oil by 127.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,527,604 shares of the oil and gas producer’s stock worth $61,067,000 after acquiring an additional 1,415,639 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Marathon Oil by 374.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 73,592 shares of the oil and gas producer’s stock worth $1,778,000 after acquiring an additional 58,081 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Marathon Oil by 137.1% during the 4th quarter. Corient Private Wealth LLC now owns 304,331 shares of the oil and gas producer’s stock worth $7,353,000 after acquiring an additional 175,964 shares during the last quarter. Finally, Blackstone Inc. grew its holdings in Marathon Oil by 23.1% during the 4th quarter. Blackstone Inc. now owns 79,901 shares of the oil and gas producer’s stock worth $1,930,000 after acquiring an additional 15,000 shares during the last quarter. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRO has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Marathon Oil in a research note on Tuesday. They set a “buy” rating on the stock. Morgan Stanley upped their price objective on shares of Marathon Oil from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Stifel Nicolaus lowered their target price on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $29.00 target price (down previously from $38.00) on shares of Marathon Oil in a report on Friday, May 31st. Finally, Barclays initiated coverage on shares of Marathon Oil in a report on Wednesday, April 10th. They set an “overweight” rating and a $35.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.86.

Marathon Oil Price Performance

Shares of MRO stock traded down $0.65 during trading hours on Friday, hitting $28.12. 5,832,956 shares of the company’s stock were exchanged, compared to its average volume of 9,688,911. The company has a market capitalization of $15.86 billion, a PE ratio of 11.89 and a beta of 2.19. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06. The business’s 50 day simple moving average is $27.41 and its 200-day simple moving average is $25.91. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 0.41.

Marathon Oil (NYSE:MRO) last released its quarterly earnings results 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. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. On average, equities research analysts anticipate that Marathon Oil Co. will post 2.86 earnings per share for the current year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, May 14th. Marathon Oil’s dividend payout ratio is presently 18.18%.

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.