Jefferies Group LLC Reiterates Hold Rating for Marathon Oil Corporation (MRO)
Marathon Oil Corporation (NYSE:MRO)‘s stock had its “hold” rating restated by Jefferies Group LLC in a research report issued to clients and investors on Friday. They currently have a $12.00 price objective on the oil and gas producer’s stock. Jefferies Group LLC’s price target indicates a potential downside of 13.54% from the stock’s current price.
Several other equities research analysts have also recently issued reports on the company. Piper Jaffray Companies set a $20.00 target price on Marathon Oil Corporation and gave the stock a “buy” rating in a report on Friday, August 25th. Citigroup Inc. raised Marathon Oil Corporation from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $19.00 to $15.00 in a report on Wednesday, July 5th. Stephens started coverage on Marathon Oil Corporation in a research note on Wednesday, July 12th. They set an “equal weight” rating and a $14.00 price objective on the stock. BidaskClub cut Marathon Oil Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Finally, Zacks Investment Research cut Marathon Oil Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Marathon Oil Corporation presently has a consensus rating of “Hold” and an average target price of $17.33.
Marathon Oil Corporation (NYSE:MRO) opened at 13.88 on Friday. Marathon Oil Corporation has a 12 month low of $10.55 and a 12 month high of $19.28. The stock’s 50 day moving average price is $12.03 and its 200 day moving average price is $13.12. The company’s market capitalization is $11.80 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 the Thomson Reuters’ consensus estimate of ($0.14) by ($0.10). Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm posted ($0.23) earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts anticipate that Marathon Oil Corporation will post ($0.46) earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in MRO. BlackRock Inc. grew its stake in shares of Marathon Oil Corporation by 4,827.5% during 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 buying an additional 105,001,815 shares during the last quarter. Boston Partners grew its stake in shares of Marathon Oil Corporation by 417.2% during the third quarter. Boston Partners now owns 37,738,524 shares of the oil and gas producer’s stock valued at $596,646,000 after buying an additional 30,442,089 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Marathon Oil Corporation by 112.6% during 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 buying an additional 28,514,387 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Marathon Oil Corporation by 23.0% during the fourth quarter. Vanguard Group Inc. now owns 60,551,171 shares of the oil and gas producer’s stock valued at $762,339,000 after buying an additional 11,331,989 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Marathon Oil Corporation by 23.5% during the first quarter. State Street Corp now owns 43,544,730 shares of the oil and gas producer’s stock valued at $485,080,000 after buying an additional 8,286,018 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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