Marathon Oil Co. (NYSE:MRO) Increases Dividend to $0.10 Per Share

Marathon Oil Co. (NYSE:MROGet Rating) declared a quarterly dividend on Wednesday, January 25th, RTT News reports. Investors of record on Wednesday, February 15th will be given a dividend of 0.10 per share by the oil and gas producer on Friday, March 10th. This represents a $0.40 dividend on an annualized basis and a yield of 1.44%. This is a boost from Marathon Oil’s previous quarterly dividend of $0.09.

Marathon Oil has raised its dividend payment by an average of 17.0% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Marathon Oil has a dividend payout ratio of 7.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Marathon Oil to earn $3.81 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 9.4%.

Marathon Oil Stock Performance

Marathon Oil stock traded up $0.01 during midday trading on Wednesday, reaching $27.86. 6,057,345 shares of the company’s stock were exchanged, compared to its average volume of 9,105,459. Marathon Oil has a 52 week low of $19.11 and a 52 week high of $33.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.08. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 5.35, a P/E/G ratio of 0.30 and a beta of 2.43. The stock’s 50-day simple moving average is $28.01 and its 200 day simple moving average is $26.61.

Marathon Oil (NYSE:MROGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The oil and gas producer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.05. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.07 billion. Marathon Oil had a net margin of 46.11% and a return on equity of 27.76%. On average, analysts expect that Marathon Oil will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, CAO Rob L. White sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $32.31, for a total transaction of $64,620.00. Following the completion of the transaction, the chief accounting officer now directly owns 41,377 shares in the company, valued at $1,336,890.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Marathon Oil news, CFO Dane E. Whitehead sold 172,230 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $31.86, for a total transaction of $5,487,247.80. Following the sale, the chief financial officer now owns 205,870 shares of the company’s stock, valued at $6,559,018.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rob L. White sold 2,000 shares of the business’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $32.31, for a total transaction of $64,620.00. Following the sale, the chief accounting officer now directly owns 41,377 shares in the company, valued at approximately $1,336,890.87. The disclosure for this sale can be found here. Insiders sold a total of 419,601 shares of company stock worth $13,493,768 over the last three months. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Marathon Oil

A number of hedge funds and other institutional investors have recently modified their holdings of MRO. Brown Brothers Harriman & Co. grew its stake in shares of Marathon Oil by 90.6% during the first quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 647 shares during the last quarter. Covestor Ltd grew its stake in shares of Marathon Oil by 76.6% during the first quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 619 shares during the last quarter. High Net Worth Advisory Group LLC grew its stake in shares of Marathon Oil by 50.0% during 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 buying an additional 500 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Marathon Oil in the third quarter worth $39,000. Finally, Stonebridge Capital Advisors LLC grew its stake in shares of 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 worth $42,000 after purchasing an additional 491 shares during the last quarter. Institutional investors own 77.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Marathon Oil in a research report on Wednesday, October 19th. They set a “hold” rating and a $30.00 price objective for the company. StockNews.com downgraded shares of Marathon Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Evercore ISI assumed coverage on shares of Marathon Oil in a research report on Thursday, January 5th. They set an “outperform” rating for the company. Piper Sandler cut their price objective on shares of Marathon Oil from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, January 13th. Finally, Raymond James lifted their price target on shares of Marathon Oil from $37.00 to $48.00 and gave the company a “strong-buy” rating in a research report on Monday, November 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marathon Oil has a consensus rating of “Moderate Buy” and an average target price of $33.88.

Marathon Oil Company Profile

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Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

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Dividend History for Marathon Oil (NYSE:MRO)

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