Zurcher Kantonalbank Zurich Cantonalbank reduces position in Marathon Oil Co. (NYSE:MRO)


Zurcher Kantonalbank Zürich Cantonalbank has sold its stake in Marathon Oil Co. (NYSE:MRO – Free Report) fell 39.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 370,144 shares of the oil and gas producer, after selling 237,192 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s stakes in Marathon Oil were worth $8,943,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also been buying and selling shares of the stock recently. Oppenheimer Asset Management Inc. increased its stake in Marathon Oil by 1.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,569 shares of the oil and gas producer worth $711,000, after purchasing an additional 421 shares during the period. Meeder Advisory Services Inc. expanded its position in Marathon Oil by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 9,879 shares of the oil and gas producer, valued at $237,000, after acquiring another 466 shares in the last quarter. First Citizens Bank & Trust Co. expanded its position in Marathon Oil by 2.1% in the 4th quarter. First Citizens Bank & Trust Co. now owns 23,631 shares of the oil and gas producer, worth $571,000, after acquiring an additional 477 shares in the last quarter. Stonebridge Capital Advisors LLC grew its position in Marathon Oil by 41.3% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,679 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 491 shares in the last quarter. Finally, High Net Worth Advisory Group LLC grew its position in Marathon Oil by 50.0% in the first quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 500 shares in the last quarter. 77.24% of the shares are currently owned by hedge funds and other institutional investors.

Insider buying and selling at Marathon Oil

In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock sold at an average price of $27.65, for a total value of $997,999.10. Following the completion of the sale, the insider now owns 140,829 shares in the company, valued at $3,893,921.85. The sale was disclosed in a document filed with the SEC, available at this link. In other news, insider Patrick Wagner sold 36,094 shares of the company’s stock in a transaction that occurred on Wednesday, March 27. The stock sold at an average price of $27.65, for a total transaction of $997,999.10. Following the completion of the sale, the insider now owns 140,829 shares in the company, valued at $3,893,921.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission and available through the SEC’s website. Also, Vice President Michael A. Henderson sold 51,389 shares of the company’s stock in a transaction that occurred on Monday, March 25. The stock sold at an average price of $27.59, for a total value of $1,417,822.51. Following the sale, the vice president now owns 114,828 shares of the company’s stock, valued at approximately $3,168,104.52. The explanation of this sale can be found here. Last quarter, insiders sold 281,332 company shares worth $7,644,903. 0.42% of the shares are owned by insiders.

Marathon oil price performance

MRO stock opened at $27.50 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 0.30. Marathon Oil Co. has a fifty-two week low of $21.63 and a fifty-two week high of $30.06. The company has a 50-day moving average of $26.23 and a 200-day moving average of $25.35. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 10.74 and a beta of 2.22.

Marathon Oil (NYSE:MRO – Get Free Report) posted its latest quarterly earnings data on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Marathon Oil had a return on equity of 14.09% and a net margin of 23.20%. The company had revenue of $1.69 billion during the quarter, compared to analyst expectations of $1.66 billion. During the same quarter of the previous year, the company earned earnings per share of $0.88. The company’s revenue fell 2.4% year over year this quarter. Equity research analysts expect Marathon Oil Co. will record a profit per share of 2.74 for the current financial year.

Marathon Oil announces dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11. A dividend of $0.11 was paid to known shareholders on Wednesday, February 21st. This represents a dividend of $0.44 annually and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, February 20. Marathon Oil’s dividend payout ratio currently stands at 17.19%.

Analysts set new price targets

Several stock analysts have weighed in on MRO stock. Mizuho raised their price target on Marathon Oil from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Friday, March 22. Benchmark raised their price target on Marathon Oil from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 13. Raymond James lowered their price target on Marathon Oil from $35.00 to $32.00 and set a “strong buy” rating for the company in a research report on Wednesday, January 24. Morgan Stanley raised their price objective on Marathon Oil from $26.00 to $27.00 and gave the stock an “equalweight” rating in a research report on Monday, April 15. Finally, UBS Group lowered their price objective on Marathon Oil from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6. Five equities research 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.76.

Check out our latest stock report on Marathon Oil

Marathon oil profile

(Free report)

Marathon Oil Corporation, an independent exploration and production company, engages in the 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 sells products made from natural gas, such as liquefied natural gas and methanol.

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Would you like to see which other hedge funds hold MRO? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Marathon Oil Co. (NYSE:MRO – Free Report).

Quarterly Institutional Ownership for Marathon Oil (NYSE:MRO)



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