Marathon Oil Corporation (MRO) Given a $19.00 Price Target at Scotiabank
Marathon Oil Corporation (NYSE:MRO) received a $19.00 target price from investment analysts at Scotiabank in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Scotiabank’s price target indicates a potential upside of 36.89% from the company’s current price.
A number of other equities research analysts have also recently commented on MRO. Barclays PLC set a $11.00 target price on Marathon Oil Corporation and gave the company a “hold” rating in a report on Friday, August 4th. Jefferies Group LLC set a $16.00 target price on Marathon Oil Corporation and gave the company a “hold” rating in a report on Saturday, June 24th. Vetr cut Marathon Oil Corporation from a “strong-buy” rating to a “buy” rating and set a $14.22 target price on the stock. in a report on Monday, August 7th. BidaskClub cut Marathon Oil Corporation from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Finally, KLR Group reiterated a “buy” rating and set a $23.00 target price (up previously from $21.00) on shares of Marathon Oil Corporation in a report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.33.
Shares of Marathon Oil Corporation (NYSE MRO) traded down 0.14% during mid-day trading on Wednesday, hitting $13.88. The stock had a trading volume of 11,090,661 shares. The company’s market cap is $11.80 billion. The stock has a 50 day moving average price of $12.03 and a 200-day moving average price of $13.12. Marathon Oil Corporation has a 52-week low of $10.55 and a 52-week high of $19.28. Marathon Oil Corporation also was the recipient of some unusual options trading on Monday. Stock traders acquired 1,294 call options on the stock. This is an increase of 127% compared to the average daily volume of 569 call options.
Marathon Oil Corporation (NYSE:MRO) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business earned ($0.23) earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities analysts expect that Marathon Oil Corporation will post ($0.46) earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This piece was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/05/marathon-oil-corporation-mro-given-a-19-00-price-target-at-scotiabank.html.
A number of institutional investors have recently modified their holdings of MRO. BlackRock Inc. boosted its holdings 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 valued at $1,693,396,000 after acquiring an additional 105,001,815 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Marathon Oil Corporation by 112.6% in the second quarter. Macquarie Group Ltd. now owns 53,832,125 shares of the oil and gas producer’s stock valued at $637,911,000 after acquiring an additional 28,514,387 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Marathon Oil Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 84,869,602 shares of the oil and gas producer’s stock valued at $1,340,940,000 after acquiring an additional 2,870,533 shares during the last quarter. State Street Corp boosted its holdings in Marathon Oil Corporation by 2.8% in the second quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock valued at $593,258,000 after acquiring an additional 1,350,863 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings 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 valued at $55,805,000 after acquiring an additional 1,341,589 shares during the last quarter. Hedge funds and other institutional investors own 80.98% of the company’s stock.
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.
Receive News & Ratings for Marathon Oil Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Oil Corporation and related companies with MarketBeat.com's FREE daily email newsletter.