Frank Rimerman Advisors LLC Sells 13,583 Shares of Marathon Oil Co. (NYSE:MRO)

Frank Rimerman Advisors LLC trimmed its position in shares of Marathon Oil Co. (NYSE:MRO) by 32.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,655 shares of the oil and gas producer’s stock after selling 13,583 shares during the period. Frank Rimerman Advisors LLC’s holdings in Marathon Oil were worth $736,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. HWG Holdings LP bought a new position in Marathon Oil during the 2nd quarter worth approximately $26,000. Founders Capital Management lifted its holdings in Marathon Oil by 100.0% during the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 500 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Marathon Oil in the second quarter valued at $29,000. Grove Bank & Trust grew its position in shares of Marathon Oil by 77.4% in the second quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Finally, Hilltop National Bank grew its position in shares of Marathon Oil by 89.5% in the second quarter. Hilltop National Bank now owns 1,620 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 765 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marathon Oil

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the company’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 directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction on Friday, September 6th. The stock was 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 $2,090,489.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $2,750,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Marathon Oil Stock Up 0.2 %

MRO stock opened at $26.46 on Monday. The company’s 50 day simple moving average is $27.42 and its 200-day simple moving average is $27.59. Marathon Oil Co. has a 12 month low of $21.81 and a 12 month high of $30.06. The firm has a market capitalization of $14.80 billion, a PE ratio of 10.30 and a beta of 2.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52.

Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business posted $0.48 EPS. Marathon Oil’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts expect that Marathon Oil Co. will post 2.43 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Oil’s payout ratio is currently 17.12%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Susquehanna cut 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. Citigroup cut their price target on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Piper Sandler increased their target price on Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company cut their target price on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Finally, Mizuho lowered their price target on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.12.

About Marathon Oil

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.