Marathon Oil Corp. (MRO) Cut to Equal Weight at Barclays PLC
Marathon Oil Corp. (NYSE:MRO) was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday. They currently have a $17.00 price target on the stock, down from their prior price target of $18.00. Barclays PLC’s price target points to a potential upside of 19.89% from the company’s previous close.
MRO has been the topic of a number of other research reports. Capital One Financial Corp. raised Marathon Oil Corp. from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $15.00 to $17.00 in a research report on Tuesday, June 21st. Bank of America Corp. raised Marathon Oil Corp. from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.90 to $21.00 in a research report on Tuesday, August 16th. Royal Bank Of Canada raised their price target on Marathon Oil Corp. from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Friday, July 8th. Citigroup Inc. raised Marathon Oil Corp. to a “strong-buy” rating and set a $18.00 price target on the stock in a research 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 price target on the stock in a research report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $17.78.
Shares of Marathon Oil Corp. (NYSE:MRO) traded down 2.74% on Monday, hitting $14.18. The stock had a trading volume of 13,373,589 shares. Marathon Oil Corp. has a 52 week low of $6.52 and a 52 week high of $20.09. The company’s market cap is $12.01 billion. The stock’s 50-day moving average price is $15.12 and its 200 day moving average price is $14.13.
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Marathon Oil Corp. (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate 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 return on equity of 5.07% and a negative net margin of 43.87%. Marathon Oil Corp.’s revenue was down 15.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.23) earnings per share. On average, analysts predict that Marathon Oil Corp. will post ($0.98) EPS for the current year.
A number of institutional investors have recently made changes to their positions in the stock. I.G. Investment Management LTD. bought a new position in shares of Marathon Oil Corp. during the second quarter valued at $101,000. Integrated Investment Consultants LLC boosted its position in shares of Marathon Oil Corp. by 46.0% in the second quarter. Integrated Investment Consultants LLC now owns 7,092 shares of the company’s stock valued at $106,000 after buying an additional 2,234 shares in the last quarter. Hallmark Capital Management Inc. bought a new position in shares of Marathon Oil Corp. during the second quarter valued at $111,000. Exane Derivatives bought a new position in shares of Marathon Oil Corp. during the second quarter valued at $112,000. Finally, Pinkerton Retirement Specialists LLC bought a new position in shares of Marathon Oil Corp. during the second quarter valued at $122,000. 80.92% of the stock is owned by hedge funds and other institutional investors.
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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