Summa Corp. Takes Position in Marathon Oil Co. (NYSE:MRO)

Summa Corp. bought a new position in shares of Marathon Oil Co. (NYSE:MRO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 324,000 shares of the oil and gas producer's stock, valued at approximately $7,828,000. Marathon Oil accounts for approximately 5.5% of Summa Corp.'s holdings, making the stock its 4th largest position. Summa Corp. owned approximately 0.06% of Marathon Oil as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in Marathon Oil by 1.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,569 shares of the oil and gas producer's stock valued at $711,000 after acquiring an additional 421 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Marathon Oil by 2.1% in the fourth quarter. First Citizens Bank & Trust Co. now owns 23,631 shares of the oil and gas producer's stock valued at $571,000 after buying an additional 477 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Marathon Oil by 6.8% during the 4th quarter. Lindbrook Capital LLC now owns 7,770 shares of the oil and gas producer's stock worth $188,000 after acquiring an additional 494 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Marathon Oil by 12.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,878 shares of the oil and gas producer's stock valued at $118,000 after acquiring an additional 528 shares during the period. Finally, Estate Counselors LLC lifted its holdings in Marathon Oil by 1.0% during the 3rd quarter. Estate Counselors LLC now owns 55,385 shares of the oil and gas producer's stock valued at $1,482,000 after purchasing an additional 538 shares during the last quarter. Institutional investors own 77.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MRO shares. Morgan Stanley increased their price target on shares of Marathon Oil from $26.00 to $27.00 and gave the company an "equal weight" rating in a report on Monday, April 15th. Raymond James lowered their price objective on shares of Marathon Oil from $35.00 to $32.00 and set a "strong-buy" rating for the company in a research report on Wednesday, January 24th. Barclays assumed coverage on shares of Marathon Oil in a research note on Wednesday, April 10th. They set an "overweight" rating and a $35.00 target price on the stock. The Goldman Sachs Group raised their price objective on Marathon Oil from $26.50 to $30.00 and gave the company a "neutral" rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus lowered their target price on Marathon Oil from $39.00 to $36.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.61.

Insider Activity

In other news, CFO Dane E. Whitehead sold 73,233 shares of the company's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $27.06, for a total value of $1,981,684.98. Following the transaction, the chief financial officer now owns 152,008 shares of the company's stock, valued at $4,113,336.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Patrick Wagner sold 36,094 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total value of $997,999.10. Following the transaction, the insider now owns 140,829 shares of the company's stock, valued at $3,893,921.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Dane E. Whitehead sold 73,233 shares of Marathon Oil stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $27.06, for a total value of $1,981,684.98. Following the sale, the chief financial officer now directly owns 152,008 shares of the company's stock, valued at approximately $4,113,336.48. The disclosure for this sale can be found here. Insiders have sold a total of 281,332 shares of company stock worth $7,644,903 over the last ninety days. Company insiders own 0.35% of the company's stock.

Marathon Oil Stock Performance

Shares of MRO stock traded down $0.60 during trading hours on Friday, hitting $26.59. 6,847,079 shares of the company were exchanged, compared to its average volume of 9,676,771. The firm has a fifty day simple moving average of $27.25 and a 200 day simple moving average of $25.38. Marathon Oil Co. has a 52-week low of $21.81 and a 52-week high of $30.06. The stock has a market capitalization of $15.00 billion, a price-to-earnings ratio of 11.24 and a beta of 2.22. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 0.41.

Marathon Oil (NYSE:MRO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. The business had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.56 billion. During the same period in the previous year, the business posted $0.67 EPS. The firm's quarterly revenue was down 7.7% compared to the same quarter last year. Research analysts predict that Marathon Oil Co. will post 2.84 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $0.11 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.44 annualized dividend and a yield of 1.65%. Marathon Oil's dividend payout ratio is currently 18.18%.

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.

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