5 Stocks That Are Aggressively Buying Back Shares According To Goldman Sachs

In this article, we discuss 5 stocks that are aggressively buying back shares according to Goldman Sachs. If you want to see more stocks in this selection, check out 20 Stocks That Are Aggressively Buying Back Shares According To Goldman Sachs. 

5. Marathon Oil Corporation (NYSE:MRO)

Share Price Returns From November 2, 2022 to January 30, 2023: -6.09%

Number of Hedge Fund Holders: 50

Net Buyback Yield: 13%

Marathon Oil Corporation (NYSE:MRO) is a Texas-based independent exploration and production company that provides crude oil and condensate, natural gas liquids, and natural gas. Marathon Oil Corporation (NYSE:MRO) is one of the stocks that are aggressively buying back shares, with a net buyback yield of 13% as per Goldman Sachs. On January 25, the company declared a quarterly dividend of $0.10 per share, 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, Wells Fargo analyst Roger Read assumed coverage of Marathon Oil Corporation (NYSE:MRO) with an Overweight rating and set a target price of $41. The analyst considers Marathon Oil Corporation (NYSE:MRO) to be a top choice in the sector due to its good performance, stock inventory, cash returns, and share buybacks. 

According to Insider Monkey’s data, 50 hedge funds were bullish on Marathon Oil Corporation (NYSE:MRO) at the end of the third quarter of 2022, compared to 41 funds in the last 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.”