Marathon Oil Corporation’s (MRO) “Equal Weight” Rating Reiterated at Morgan Stanley
Marathon Oil Corporation (NYSE:MRO)‘s stock had its “equal weight” rating restated by equities research analysts at Morgan Stanley in a report released on Saturday.
Other equities research analysts have also recently issued research reports about the company. FBR & Co restated a “buy” rating and issued a $20.00 price target on shares of Marathon Oil Corporation in a report on Tuesday, May 23rd. Goldman Sachs Group, Inc. (The) initiated coverage on Marathon Oil Corporation in a report on Wednesday, June 28th. They set a “neutral” rating and a $16.00 target price on the stock. Piper Jaffray Companies set a $20.00 price target on Marathon Oil Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Jefferies Group LLC set a $16.00 price target on Marathon Oil Corporation and gave the stock a “hold” rating in a research note on Saturday, June 24th. Finally, BidaskClub raised Marathon Oil Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.33.
Shares of Marathon Oil Corporation (NYSE MRO) opened at 12.00 on Friday. Marathon Oil Corporation has a one year low of $10.55 and a one year high of $19.28. The firm has a 50-day moving average price of $11.60 and a 200 day moving average price of $13.39. The firm’s market capitalization is $10.20 billion.
Marathon Oil Corporation (NYSE:MRO) last issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the company posted ($0.23) earnings per share. Equities analysts forecast that Marathon Oil Corporation will post ($0.46) earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in MRO. BlackRock Inc. grew its position in Marathon Oil Corporation by 4,827.5% in the first quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock worth $1,693,396,000 after buying an additional 105,001,815 shares during the last quarter. Chevy Chase Trust Holdings Inc. grew its position in Marathon Oil Corporation by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 733,564 shares of the oil and gas producer’s stock worth $8,693,000 after buying an additional 1,905 shares during the last quarter. Buckingham Asset Management LLC acquired a new position in Marathon Oil Corporation in the second quarter worth approximately $173,000. Dupont Capital Management Corp acquired a new position in Marathon Oil Corporation in the second quarter worth approximately $122,000. Finally, JPMorgan Chase & Co. grew its position in Marathon Oil Corporation by 39.8% in the second quarter. JPMorgan Chase & Co. now owns 4,709,387 shares of the oil and gas producer’s stock worth $55,805,000 after buying an additional 1,341,589 shares during the last quarter. 80.98% of the stock is currently owned by hedge funds and other institutional investors.
About Marathon Oil Corporation
Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America 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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