MetLife Investment Management LLC Decreases Stock Holdings in Marathon Oil Co. (NYSE:MRO)

MetLife Investment Management LLC lowered its holdings in Marathon Oil Co. (NYSE:MRO) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,445 shares of the oil and gas producer’s stock after selling 5,125 shares during the period. MetLife Investment Management LLC’s holdings in Marathon Oil were worth $3,873,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. HWG Holdings LP purchased a new position in shares of Marathon Oil in the 2nd quarter worth about $26,000. Founders Capital Management boosted its stake in 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 acquiring an additional 500 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Marathon Oil during the 2nd quarter valued at approximately $29,000. Grove Bank & Trust increased its stake in shares of 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 purchasing an additional 465 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Marathon Oil in the 3rd quarter worth approximately $36,000. Institutional investors own 77.24% of the company’s stock.

Marathon Oil Stock Performance

Shares of MRO opened at $28.55 on Tuesday. Marathon Oil Co. has a 12-month low of $21.81 and a 12-month high of $30.06. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The company has a market cap of $15.97 billion, a PE ratio of 12.25 and a beta of 2.16. The stock has a 50-day moving average price of $27.74 and a 200-day moving average price of $27.73.

Marathon Oil (NYSE:MRO) last announced its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. Marathon Oil’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. As a group, equities analysts forecast that Marathon Oil Co. will post 2.34 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a yield of 1.54%. Marathon Oil’s payout ratio is 18.88%.

Insider Buying and Selling at Marathon Oil

In related news, insider Patrick Wagner sold 36,094 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $28.84, for a total transaction of $1,040,950.96. Following the transaction, the insider now directly owns 104,735 shares of the company’s stock, valued at approximately $3,020,557.40. This trade represents a 25.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction that occurred 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 directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. This represents a 33.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 382,693 shares of company stock worth $10,964,251 over the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

MRO has been the subject of several research reports. Susquehanna reduced 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. JPMorgan Chase & Co. decreased their price objective on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Citigroup dropped their price objective on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Truist Financial reduced their target price on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, StockNews.com started coverage on shares of Marathon Oil in a research note on Sunday. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.94.

Marathon Oil 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.