CIBC Asset Management Inc Purchases 5,711 Shares of Marathon Oil Co. (NYSE:MRO)

CIBC Asset Management Inc grew its position in shares of Marathon Oil Co. (NYSE:MRO) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,113 shares of the oil and gas producer’s stock after buying an additional 5,711 shares during the quarter. CIBC Asset Management Inc’s holdings in Marathon Oil were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. HWG Holdings LP acquired a new stake in Marathon Oil during the 2nd quarter valued at $26,000. Founders Capital Management increased 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 valued at $29,000 after buying an additional 500 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Marathon Oil in the second quarter valued at about $29,000. Grove Bank & Trust lifted its position in Marathon Oil by 77.4% during the 2nd quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Marathon Oil during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Analysts Set New Price Targets

MRO has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. UBS Group decreased their price objective on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Scotiabank boosted their target price on Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 10th. Citigroup decreased their price target on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Susquehanna dropped their price objective on Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.94.

Marathon Oil Trading Down 0.8 %

Shares of NYSE MRO opened at $28.75 on Wednesday. Marathon Oil Co. has a twelve month low of $21.81 and a twelve month high of $30.06. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 12.34 and a beta of 2.16. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The company’s fifty day moving average is $27.41 and its 200-day moving average is $27.59.

Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts predict that Marathon Oil Co. will post 2.36 EPS for the current year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a yield of 1.53%. Marathon Oil’s payout ratio is 18.88%.

Insiders Place Their Bets

In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at approximately $2,750,000. This represents a 34.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael A. Henderson sold 38,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the sale, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. This trade represents a 33.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 346,599 shares of company stock worth $9,923,300. Company insiders own 0.35% of the company’s stock.

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.