Insiders and Executives are Selling These 5 Oil Stocks

4. Marathon Oil Corporation (NYSE:MRO)

Number of Hedge Fund Holders: 40

Marathon Oil Corporation (NYSE:MRO) was founded in 1887 and is headquartered in Houston, Texas, engaging in the exploration and production of crude oil and condensate, natural gas liquids, and natural gas. 

In a regulatory filing, Marathon Oil Corporation (NYSE:MRO) chairman, president, and CEO Lee Tillman disclosed the sale of 54,151 common shares of the company on March 2 at a price of $23.109 per share. Overall, Marathon Oil Corporation (NYSE:MRO) insiders sold 496,943 shares as of March 11, and the most notable sellers were Lee Tillman, Dane Whitehead, executive vice president and CFO, and Pat Wagner, executive vice president of corporate development and strategy. 

On March 2, Benchmark analyst Subash Chandra downgraded Marathon Oil Corporation (NYSE:MRO) to Hold from Buy, removing his prior price target of $19, citing that valuations are “not extreme in context of current oil prices”, but the analyst prefers to focus on companies that are still reflecting oil prices at less than $75 per barrel.

In Q4 2021, 40 hedge funds were bullish on Marathon Oil Corporation (NYSE:MRO) according to the database of Insider Monkey, with combined stakes of $969 million. Brandon Haley’s Holocene Advisors is the largest shareholder of the company, with 9.3 million shares worth approximately $154 million.