Cypress Capital Group Sells 3,801 Shares of Marathon Oil Co. (NYSE:MRO)

Cypress Capital Group reduced its stake in Marathon Oil Co. (NYSE:MRO) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,853 shares of the oil and gas producer’s stock after selling 3,801 shares during the period. Cypress Capital Group’s holdings in Marathon Oil were worth $999,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Marathon Oil during the fourth quarter valued at approximately $3,209,000. Louisiana State Employees Retirement System bought a new stake in Marathon Oil during the fourth quarter worth about $855,000. abrdn plc lifted its holdings in shares of Marathon Oil by 55.5% during the fourth quarter. abrdn plc now owns 293,850 shares of the oil and gas producer’s stock valued at $7,099,000 after purchasing an additional 104,895 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Marathon Oil by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 17,882 shares of the oil and gas producer’s stock worth $432,000 after purchasing an additional 850 shares in the last quarter. Finally, Syon Capital LLC grew its stake in shares of Marathon Oil by 32.6% in the 4th quarter. Syon Capital LLC now owns 30,769 shares of the oil and gas producer’s stock worth $743,000 after buying an additional 7,565 shares during the last quarter. 77.24% of the stock is owned by institutional investors.

Marathon Oil Stock Up 2.9 %

Shares of MRO traded up $0.82 during trading hours on Monday, hitting $28.91. The company had a trading volume of 1,158,679 shares, compared to its average volume of 8,749,789. The company has a market capitalization of $16.17 billion, a PE ratio of 11.61 and a beta of 2.19. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average price is $28.01 and its two-hundred day moving average price is $27.06. Marathon Oil Co. has a one year low of $21.81 and a one year high of $30.06.

Marathon Oil (NYSE:MRO) last announced its earnings results 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 business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts forecast that Marathon Oil Co. will post 2.77 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Wednesday, August 21st. Marathon Oil’s dividend payout ratio (DPR) is presently 18.18%.

Analysts Set New Price Targets

Several brokerages recently commented on MRO. Piper Sandler increased their price objective on shares of Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Mizuho increased their price objective on Marathon Oil from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, June 5th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 target price on shares of Marathon Oil in a report on Wednesday, July 17th. StockNews.com started coverage on Marathon Oil in a research report on Monday, August 19th. They issued a “buy” rating for the company. Finally, UBS Group lowered their target price on shares of Marathon Oil from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.40.

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.