Manning & Napier Advisors LLC Invests $5.63 Million in Marathon Oil Co. (NYSE:MRO)

Manning & Napier Advisors LLC purchased a new stake in shares of Marathon Oil Co. (NYSE:MRO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 196,486 shares of the oil and gas producer’s stock, valued at approximately $5,633,000.

Other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co bought a new position in shares of Marathon Oil in the first quarter valued at about $27,000. Benjamin Edwards Inc. increased its position in Marathon Oil by 226.0% in the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 678 shares in the last quarter. Founders Capital Management raised its stake in shares of 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. Fortis Group Advisors LLC lifted its position in shares of Marathon Oil by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 618 shares in the last quarter. Finally, Manchester Capital Management LLC bought a new stake in shares of Marathon Oil during the fourth quarter valued at approximately $31,000. Institutional investors own 77.24% of the company’s stock.

Marathon Oil Stock Performance

Shares of NYSE MRO traded up $0.03 during mid-day trading on Friday, reaching $27.30. 6,615,858 shares of the company’s stock were exchanged, compared to its average volume of 9,029,050. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.55 and a quick ratio of 0.48. The firm has a market capitalization of $15.40 billion, a price-to-earnings ratio of 11.28 and a beta of 2.19. Marathon Oil Co. has a 52 week low of $21.81 and a 52 week high of $30.06. The firm has a 50-day moving average price of $28.02 and a two-hundred day moving average price of $26.65.

Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 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 up 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 earnings per share. Analysts predict that Marathon Oil Co. will post 2.79 EPS for the current year.

Marathon Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Wednesday, August 21st. Marathon Oil’s payout ratio is 18.18%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MRO shares. Susquehanna boosted their price objective on shares of Marathon Oil from $33.00 to $39.00 and gave the stock a “positive” rating in a research report on Monday, July 22nd. Piper Sandler increased their price target on shares of Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Truist Financial decreased their price objective on Marathon Oil from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Morgan Stanley increased their target price on Marathon Oil from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $29.00 price target (down previously from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.14.

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.