State of Alaska Department of Revenue Cuts Stock Holdings in Marathon Oil Co. (NYSE:MRO)

State of Alaska Department of Revenue reduced its position in Marathon Oil Co. (NYSE:MRO) by 18.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 182,329 shares of the oil and gas producer’s stock after selling 41,655 shares during the period. State of Alaska Department of Revenue’s holdings in Marathon Oil were worth $5,166,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MRO. Hotchkis & Wiley Capital Management LLC increased its holdings in Marathon Oil by 24.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 19,388,560 shares of the oil and gas producer’s stock worth $468,428,000 after buying an additional 3,795,020 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Marathon Oil by 22.6% during the 3rd quarter. Morgan Stanley now owns 11,797,521 shares of the oil and gas producer’s stock valued at $315,584,000 after acquiring an additional 2,176,062 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Marathon Oil by 127.3% in the fourth 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 period. Dimensional Fund Advisors LP raised its holdings in shares of Marathon Oil by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,186,365 shares of the oil and gas producer’s stock valued at $197,801,000 after purchasing an additional 556,566 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in Marathon Oil by 49.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,467,965 shares of the oil and gas producer’s stock valued at $35,466,000 after purchasing an additional 487,514 shares during the period. 77.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on MRO. Truist Financial cut their target price on shares of Marathon Oil from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Piper Sandler upped their price objective on Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Mizuho increased their target price on Marathon Oil from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. The Goldman Sachs Group boosted their price target on Marathon Oil from $26.50 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $29.00 price objective (down previously from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Oil has an average rating of “Moderate Buy” and a consensus price target of $32.86.

Marathon Oil Trading Up 0.7 %

Shares of MRO stock opened at $28.77 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $16.23 billion, a price-to-earnings 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 stock’s 50-day moving average price is $27.41 and its 200-day moving average price is $25.91.

Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm posted $0.67 earnings per share. Marathon Oil’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities research analysts predict that Marathon Oil Co. will post 2.86 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Tuesday, May 14th. Marathon Oil’s payout ratio is 18.18%.

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.