Marathon Oil Corp. (MRO) Shares Up 3.3%
Marathon Oil Corp. (NYSE:MRO) shares shot up 3.3% during trading on Wednesday . The stock traded as high as $14.47 and last traded at $14.33, with a volume of 9,604,143 shares traded. The stock had previously closed at $13.87.
Several brokerages have recently commented on MRO. Capital One Financial Corp. raised Marathon Oil Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $15.00 to $17.00 in a report on Tuesday, June 21st. Bank of America Corp. raised Marathon Oil Corp. from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.90 to $21.00 in a report on Tuesday, August 16th. Royal Bank Of Canada boosted their target price on Marathon Oil Corp. from $14.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, July 8th. Citigroup Inc. raised Marathon Oil Corp. to a “strong-buy” rating and set a $18.00 target price on the stock in a report on Thursday, July 7th. Finally, Zacks Investment Research raised Marathon Oil Corp. from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $18.12.
The company has a 50-day moving average price of $15.03 and a 200-day moving average price of $13.57. The firm’s market capitalization is $12.41 billion.
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Marathon Oil Corp. (NYSE:MRO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.05. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.12 billion. Marathon Oil Corp. had a negative net margin of 43.87% and a negative return on equity of 5.07%. Marathon Oil Corp.’s revenue was down 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.23) earnings per share. Analysts anticipate that Marathon Oil Corp. will post ($0.98) earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were issued a $0.05 dividend. The ex-dividend date was Monday, August 15th. This represents a $0.20 annualized dividend and a yield of 1.37%. Marathon Oil Corp.’s payout ratio is -6.58%.
A number of institutional investors have recently added to or reduced their stakes in MRO. Norges Bank purchased a new position in Marathon Oil Corp. during the fourth quarter valued at about $81,506,000. Chevy Chase Trust Holdings Inc. raised its position in Marathon Oil Corp. by 28.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 721,282 shares of the company’s stock valued at $8,036,000 after buying an additional 160,170 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Marathon Oil Corp. by 13.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 132,413 shares of the company’s stock valued at $1,475,000 after buying an additional 15,400 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its position in Marathon Oil Corp. by 35.3% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 205,405 shares of the company’s stock valued at $2,288,000 after buying an additional 53,603 shares during the last quarter. Finally, Texas Permanent School Fund raised its position in Marathon Oil Corp. by 14.3% in the first quarter. Texas Permanent School Fund now owns 271,794 shares of the company’s stock valued at $3,028,000 after buying an additional 34,019 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.
About Marathon Oil Corp.
Marathon Oil Corporation is an exploration and production company with operations in North America, Europe and Africa. The Company operates through three segments: North America E&P (N.A. E&P), International E&P (Int’l E&P), and Oil Sands Mining (OSM). The N.A. E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.
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