Marathon Oil Corp. Rating Lowered to Hold at Stifel Nicolaus (MRO)
Marathon Oil Corp. (NYSE:MRO) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. They currently have a $37.00 price target on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 4.88% from the company’s current price.
The analysts wrote, “We are downgrading MRO from Buy to Hold given the lack of meaningful upside to our prior target price/fair value and expectations for lackluster 3Q results. Although MRO remains a value stock, we do not expect the valuation discount to narrow in the coming 6-12 months given that production will sequentially decline in 3Q13, key 2013 upside exploration wells already having been reported on, and our expectation for subpar 2014 production growth rate of 3-5%. As a result, MRO should remain a value name and we expect MRO to relatively underperform its peers and possibly underperform on an absolute basis if crude oil eases off further for the remainder of 2013 given its higher crude oil weighting.”
Marathon Oil Corp. (NYSE:MRO) traded down 0.57% during mid-day trading on Friday, hitting $35.08. The stock had a trading volume of 960,671 shares. Marathon Oil Corp. has a 1-year low of $28.63 and a 1-year high of $37.87. The stock has a 50-day moving average of $34.90 and a 200-day moving average of $34.63. The company has a market cap of $24.895 billion and a price-to-earnings ratio of 15.82.
Marathon Oil Corp. (NYSE:MRO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.67 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.71 by $0.04. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the company posted $0.59 earnings per share. Marathon Oil Corp.’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that Marathon Oil Corp. will post $2.72 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Guggenheim initiated coverage on shares of Marathon Oil Corp. (NYSE:MRO) in a research note to investors on Thursday, September 12th. They set a “buy” rating and a $45.00 price target on the stock. Separately, analysts at Raymond James upgraded shares of Marathon Oil Corp. (NYSE:MRO) from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, August 22nd. Finally, analysts at Mizuho cut their price target on shares of Marathon Oil Corp. (NYSE:MRO) from $44.00 to $43.00 in a research note to investors on Tuesday, August 20th. They now have a “buy” rating on the stock. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Marathon Oil Corp. has an average rating of “Buy” and a consensus target price of $43.82.
Marathon Oil Corporation (NYSE:MRO) is an international energy company engaged in exploration and production, oil sands mining and integrated gas with operations in the United States, Angola, Canada, Equatorial Guinea.
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