Marathon Oil Corporation (MRO) Price Target Raised to $13.00
Marathon Oil Corporation (NYSE:MRO) had its target price lifted by equities research analysts at Barclays PLC from $11.00 to $13.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has an “equal weight” rating on the oil and gas producer’s stock. Barclays PLC’s target price suggests a potential downside of 4.55% from the stock’s previous close.
MRO has been the topic of a number of other reports. Scotiabank set a $19.00 target price on Marathon Oil Corporation and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Morgan Stanley raised Marathon Oil Corporation from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $17.00 to $14.00 in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) assumed coverage on Marathon Oil Corporation in a research report on Wednesday, June 28th. They set a “neutral” rating and a $16.00 target price on the stock. Stifel Nicolaus set a $10.00 target price on Marathon Oil Corporation and gave the stock a “hold” rating in a research report on Thursday, October 5th. Finally, Piper Jaffray Companies set a $20.00 target price on Marathon Oil Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $17.06.
Marathon Oil Corporation (MRO) traded up 0.15% during mid-day trading on Wednesday, hitting $13.64. The company had a trading volume of 4,185,581 shares. The company’s 50 day moving average price is $12.27 and its 200-day moving average price is $13.06. The company’s market cap is $11.59 billion. Marathon Oil Corporation has a one year low of $10.55 and a one year high of $19.28.
Marathon Oil Corporation (NYSE:MRO) last announced 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the firm earned ($0.23) earnings per share. Equities research analysts anticipate that Marathon Oil Corporation will post ($0.46) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake 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 purchasing an additional 105,001,815 shares in the last quarter. Vanguard Group Inc. grew its stake in Marathon Oil Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock valued at $1,027,132,000 after purchasing an additional 1,808,213 shares in the last quarter. Macquarie Group Ltd. grew its stake 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 purchasing an additional 28,514,387 shares in the last quarter. State Street Corp grew its stake 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 purchasing an additional 1,350,863 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Marathon Oil Corporation by 0.5% in the second quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock valued at $418,709,000 after purchasing an additional 172,691 shares in 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.
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