Marathon Oil Corporation (MRO) Releases Earnings Results, Beats Expectations By $0.06 EPS
Marathon Oil Corporation (NYSE:MRO) released its earnings results on Wednesday. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.06, Bloomberg Earnings reports. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.04 billion. Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, November 14th. Marathon Oil Corporation’s dividend payout ratio is -2.55%.
A number of analysts have recently issued reports on MRO shares. Zacks Investment Research upgraded Marathon Oil Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and issued a $14.00 target price on shares of Marathon Oil Corporation in a report on Thursday, October 19th. Royal Bank Of Canada set a $16.00 price target on shares of Marathon Oil Corporation and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Citigroup Inc. raised shares of Marathon Oil Corporation from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $19.00 to $15.00 in a research note on Wednesday, July 5th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $19.00 price target on shares of Marathon Oil Corporation in a research note on Thursday, August 3rd. Three 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. The company has a consensus rating of “Hold” and an average target price of $17.19.
Marathon Oil Corporation Company Profile
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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