Marathon Oil Co. (NYSE:MRO) – Investment analysts at Piper Jaffray Companies upped their FY2021 earnings per share estimates for Marathon Oil in a note issued to investors on Wednesday, November 6th. Piper Jaffray Companies analyst R. Todd now anticipates that the oil and gas producer will post earnings per share of $0.56 for the year, up from their prior forecast of $0.53. Piper Jaffray Companies currently has a “Overweight” rating and a $24.00 target price on the stock.
Several other equities analysts have also weighed in on the company. Morgan Stanley dropped their price target on Marathon Oil from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, October 4th. Royal Bank of Canada set a $21.00 price target on Marathon Oil and gave the stock a “buy” rating in a research report on Friday, August 9th. ValuEngine raised Marathon Oil from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup started coverage on Marathon Oil in a research report on Monday, September 23rd. They set a “neutral” rating and a $13.00 price target on the stock. Finally, Wells Fargo & Co raised their price target on Marathon Oil from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Marathon Oil presently has an average rating of “Buy” and an average target price of $20.24.
NYSE:MRO traded down $0.03 during mid-day trading on Friday, hitting $12.53. The company had a trading volume of 15,567,260 shares, compared to its average volume of 10,476,142. Marathon Oil has a fifty-two week low of $11.06 and a fifty-two week high of $19.30. The business’s fifty day moving average is $11.94 and its two-hundred day moving average is $13.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.09. The firm has a market cap of $10.16 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.66 and a beta of 2.26.
Marathon Oil (NYSE:MRO) last released its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.10. Marathon Oil had a return on equity of 6.32% and a net margin of 16.15%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was down 19.3% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in MRO. BlackRock Inc. raised its position in Marathon Oil by 16.0% in the 2nd quarter. BlackRock Inc. now owns 82,640,427 shares of the oil and gas producer’s stock valued at $1,174,320,000 after buying an additional 11,401,401 shares during the last quarter. Invesco Ltd. raised its position in Marathon Oil by 12.0% in the 2nd quarter. Invesco Ltd. now owns 50,605,844 shares of the oil and gas producer’s stock valued at $719,110,000 after buying an additional 5,420,834 shares during the last quarter. Nuveen Asset Management LLC raised its position in Marathon Oil by 259.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,977,564 shares of the oil and gas producer’s stock valued at $84,941,000 after buying an additional 4,312,323 shares during the last quarter. Macquarie Group Ltd. raised its position in Marathon Oil by 8.8% in the 2nd quarter. Macquarie Group Ltd. now owns 46,852,052 shares of the oil and gas producer’s stock valued at $665,767,000 after buying an additional 3,789,808 shares during the last quarter. Finally, Caymus Capital Partners L.P. raised its position in Marathon Oil by 136.2% in the 2nd quarter. Caymus Capital Partners L.P. now owns 3,425,108 shares of the oil and gas producer’s stock valued at $48,671,000 after buying an additional 1,975,025 shares during the last quarter. 82.70% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, November 19th. Marathon Oil’s dividend payout ratio is currently 28.17%.
Marathon Oil Company Profile
Marathon Oil Corporation operates as an energy company in the United States, Equatorial Guinea, the United Kingdom, and Libya. It operates in two segments, United States and International. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.
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