Score the duck skin in a crosshatch pattern and season both sides with salt and pepper. Let the breasts sit at room temperature for 15 minutes.

Trim the fennel bulbs and slice them into thin wedges. Segment two blood oranges and set the segments aside. Juice the remaining orange and mix the juice with the honey and thyme leaves.

Heat the olive oil in a large oven-safe skillet over medium heat. Place the duck breasts skin side down and cook until the fat renders and the skin is golden, about 8 minutes. Flip the breasts and cook 2 minutes more.

Add the fennel wedges to the skillet around the duck. Pour the blood orange and honey mixture over everything. Transfer the skillet to a 400 degree oven and roast until the duck reaches 135 degrees internally for medium-rare, about 6 to 8 minutes.

Remove the skillet from the oven. Let the duck rest 5 minutes, then slice it against the grain. Serve with the roasted fennel and blood orange segments spooned over the top.