Varma Mutual Pension Insurance Co Has $16.62 Million Stock Position in Marathon Oil Co. (NYSE:MRO)

Varma Mutual Pension Insurance Co raised its holdings in Marathon Oil Co. (NYSE:MRO) by 16.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 579,512 shares of the oil and gas producer’s stock after buying an additional 83,212 shares during the quarter. Varma Mutual Pension Insurance Co owned 0.10% of Marathon Oil worth $16,615,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its stake in Marathon Oil by 374.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 73,592 shares of the oil and gas producer’s stock valued at $1,778,000 after buying an additional 58,081 shares during the period. Corient Private Wealth LLC lifted its stake in Marathon Oil by 137.1% in the fourth quarter. Corient Private Wealth LLC now owns 304,331 shares of the oil and gas producer’s stock valued at $7,353,000 after buying an additional 175,964 shares during the period. Blackstone Inc. raised its position in shares of Marathon Oil by 23.1% during the fourth quarter. Blackstone Inc. now owns 79,901 shares of the oil and gas producer’s stock worth $1,930,000 after purchasing an additional 15,000 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Marathon Oil during the fourth quarter worth approximately $5,051,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Marathon Oil during the fourth quarter worth approximately $6,837,000. 77.24% of the stock is owned by institutional investors and hedge funds.

Marathon Oil Stock Down 1.3 %

MRO opened at $26.72 on Monday. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The company’s 50-day moving average price is $27.99 and its two-hundred day moving average price is $27.42. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of 11.04 and a beta of 2.16. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.48 EPS. As a group, equities analysts expect that Marathon Oil Co. will post 2.76 earnings per share for the current year.

Marathon Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.65%. Marathon Oil’s payout ratio is 18.18%.

Wall Street Analysts Forecast Growth

MRO has been the topic of a number of research reports. StockNews.com initiated coverage on Marathon Oil in a research report on Wednesday, September 4th. They set a “buy” rating on the stock. Piper Sandler upped their target price on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Susquehanna lowered their target price on Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $33.00 target price on shares of Marathon Oil in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $29.00 target price (down from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.03.

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.