Beam Wealth Advisors Inc. Takes $540,000 Position in Marathon Oil Co. (NYSE:MRO)

Beam Wealth Advisors Inc. bought a new position in shares of Marathon Oil Co. (NYSE:MRO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 18,822 shares of the oil and gas producer’s stock, valued at approximately $540,000.

Several other large investors have also recently bought and sold shares of MRO. Park Avenue Securities LLC raised its stake in shares of Marathon Oil by 4.8% during the 1st quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer’s stock worth $257,000 after purchasing an additional 415 shares in the last quarter. Wahed Invest LLC raised its position in Marathon Oil by 4.2% during the fourth quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer’s stock worth $249,000 after acquiring an additional 419 shares in the last quarter. Gradient Investments LLC lifted its stake in Marathon Oil by 1.9% in the second quarter. Gradient Investments LLC now owns 22,829 shares of the oil and gas producer’s stock valued at $655,000 after acquiring an additional 428 shares during the last quarter. Trueblood Wealth Management LLC grew its position in shares of Marathon Oil by 4.8% in the 1st quarter. Trueblood Wealth Management LLC now owns 9,559 shares of the oil and gas producer’s stock valued at $271,000 after acquiring an additional 439 shares during the period. Finally, Argent Capital Management LLC increased its stake in shares of Marathon Oil by 0.5% during the 1st quarter. Argent Capital Management LLC now owns 87,563 shares of the oil and gas producer’s stock worth $2,482,000 after purchasing an additional 441 shares during the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

Marathon Oil Trading Down 0.3 %

Shares of MRO stock opened at $26.64 on Tuesday. The stock has a 50 day simple moving average of $27.95 and a 200 day simple moving average of $27.44. Marathon Oil Co. has a 1 year low of $21.81 and a 1 year high of $30.06. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. The stock has a market cap of $14.90 billion, a P/E ratio of 11.01 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share 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 for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. On average, research analysts predict that Marathon Oil Co. will post 2.76 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.65%. The ex-dividend date is Wednesday, August 21st. Marathon Oil’s dividend payout ratio is currently 18.18%.

Analyst Ratings Changes

MRO has been the subject of several recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $33.00 target price on shares of Marathon Oil in a research note on Wednesday, July 17th. Piper Sandler lifted their target price on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Capital One Financial cut Marathon Oil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 5th. StockNews.com initiated coverage on shares of Marathon Oil in a report on Wednesday, September 4th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $29.00 target price (down previously from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.