5 Hot Oil Stocks To Buy Now

4. Marathon Oil Corporation (NYSE:MRO)

Average 3-month Volume as of January 31: 10.63 Million

YTD Share Price Gains as of January 31: 5.66%

Number of Hedge Fund Holders: 50

Marathon Oil Corporation (NYSE:MRO) was founded in 1887 and is headquartered in Houston, Texas. It 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. Marathon Oil Corporation (NYSE:MRO) on January 25 declared a $0.10 per share quarterly dividend, an 11.1% increase from its prior dividend of $0.09. The dividend is payable on March 10, to shareholders of record on February 15. 

On January 24, Morgan Stanley analyst Devin McDermott upgraded Marathon Oil Corporation (NYSE:MRO) to Overweight from Equal Weight and lifted the price target to $28 from $27. In a research note to investors, the analyst explained that the recent acquisition of Ensign Natural Resources in the Eagle Ford added 130,000 acres to Marathon Oil Corporation (NYSE:MRO)’s holdings with over 600 untapped locations, addressing investor concerns about the company’s inventory longevity. 

According to Insider Monkey’s third quarter database, 50 hedge funds were long Marathon Oil Corporation (NYSE:MRO), compared to 41 in the prior quarter. Ken Fisher’s Fisher Asset Management is the leading stakeholder of the company, with 8.3 million shares worth $188 million. 

Here is what Carillon Tower Advisers had to say about Marathon Oil Corporation (NYSE:MRO) in its “Carillon Clarivest Capital Appreciation Fund” first-quarter 2022 investor letter:

“Stock selection contributed the most while sector allocation was also positive. An underweight to communication services and an overweight to energy helped performance, while an underweight to consumer staples and an overweight to materials detracted. Stock selection was strong within healthcare and materials but was weak within information technology and industrials. Marathon Oil (NYSE:MRO) increased its quarterly dividend and executed an impressive share buyback that blew by the target it originally announced.”