Marathon Oil (NYSE:MRO) Now Covered by Analysts at StockNews.com

Posted by ABMN Staff on Jul 19th, 2024

StockNews.com initiated coverage on shares of Marathon Oil (NYSE:MRO – Free Report) in a research note released on Thursday. The brokerage issued a buy rating on the oil and gas producer’s stock.

Several other research analysts also recently issued reports on the company. The Goldman Sachs Group upped their price objective on Marathon Oil from $26.50 to $30.00 and gave the stock a neutral rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. restated a neutral rating and set a $33.00 price objective on shares of Marathon Oil in a report on Wednesday. Scotiabank cut Marathon Oil from a sector outperform rating to a sector perform rating and reduced their price objective for the stock from $45.00 to $29.00 in a research report on Friday, July 12th. Mizuho lifted their target price on Marathon Oil from $33.00 to $34.00 and gave the company a neutral rating in a research report on Wednesday, June 5th. Finally, Benchmark reaffirmed a buy rating and set a $32.00 price target on shares of Marathon Oil in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $31.81.

Get Our Latest Report on Marathon Oil

Marathon Oil Stock Up 0.5 %

Shares of MRO opened at $29.26 on Thursday. The business’s 50 day simple moving average is $27.75 and its 200-day simple moving average is $26.19. Marathon Oil has a one year low of $21.81 and a one year high of $30.06. The company has a market capitalization of $16.50 billion, a P/E ratio of 12.09 and a beta of 2.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.55 and a quick ratio of 0.48.

Marathon Oil (NYSE:MRO – Get Free Report) last announced its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company posted $0.67 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Marathon Oil will post 2.86 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, May 14th. Marathon Oil’s dividend payout ratio is presently 18.18%.

Hedge Funds Weigh In On Marathon Oil

Several institutional investors and hedge funds have recently modified their holdings of the business. Oak Thistle LLC bought a new position in shares of Marathon Oil during the fourth quarter worth approximately $1,440,000. Victory Capital Management Inc. increased its stake in Marathon Oil by 127.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,527,604 shares of the oil and gas producer’s stock worth $61,067,000 after acquiring an additional 1,415,639 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in Marathon Oil by 374.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 73,592 shares of the oil and gas producer’s stock valued at $1,778,000 after acquiring an additional 58,081 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Marathon Oil by 137.1% during the 4th quarter. Corient Private Wealth LLC now owns 304,331 shares of the oil and gas producer’s stock valued at $7,353,000 after acquiring an additional 175,964 shares during the period. Finally, Blackstone Inc. increased its position in shares of Marathon Oil by 23.1% in the fourth quarter. Blackstone Inc. now owns 79,901 shares of the oil and gas producer’s stock worth $1,930,000 after purchasing an additional 15,000 shares during the period. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Marathon Oil Company Profile

(Get Free Report)

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

Analyst Recommendations for Marathon Oil (NYSE:MRO)

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