Marathon Oil Reaches New 1-Year High After Analyst Upgrade (MRO)
Marathon Oil (NYSE:MRO)’s share price reached a new 52-week high during trading on Tuesday after Argus raised their price target on the stock from $42.00 to $45.00, American Banking News reports. Argus currently has a buy rating on the stock. Marathon Oil traded as high as $38.21 and last traded at $38.08, with a volume of 2,758,093 shares traded. The stock had previously closed at $37.84.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank initiated coverage on shares of Marathon Oil in a research note on Tuesday. They set a “buy” rating and a $46.00 price target on the stock. Separately, analysts at Guggenheim cut their price target on shares of Marathon Oil from $47.00 to $45.00 in a research note on Friday, May 23rd. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Marathon Oil in a research note on Thursday, May 22nd. They now have a $38.00 price target on the stock. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $43.58.
The stock has a 50-day moving average of $36.36 and a 200-day moving average of $35.01. The company has a market cap of $25.799 billion and a price-to-earnings ratio of 10.65.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Monday, May 19th.
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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