Marathon Oil Price Performance
Shares of MRO opened at $22.45 on Monday. The company has a market cap of $13.14 billion, a price-to-earnings ratio of 8.31 and a beta of 2.22. Marathon Oil has a 1-year low of $20.57 and a 1-year high of $29.56. The company’s fifty day simple moving average is $23.58 and its 200 day simple moving average is $25.39. The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43.
Marathon Oil declared that its Board of Directors has authorized a share buyback program on Wednesday, November 1st that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the oil and gas producer to repurchase up to 14.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Marathon Oil Announces Dividend
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Benchmark decreased their price objective on shares of Marathon Oil from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, January 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $25.00 price objective (down from $27.00) on shares of Marathon Oil in a report on Monday, December 11th. Piper Sandler decreased their price objective on shares of Marathon Oil from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. Stifel Nicolaus decreased their price objective on shares of Marathon Oil from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, November 20th. Finally, UBS Group reiterated a “neutral” rating and issued a $28.00 price objective (down from $34.00) on shares of Marathon Oil in a report on Thursday, December 14th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.16.
Institutional Trading of Marathon Oil
Large investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC increased its stake in Marathon Oil by 92.6% in the first quarter. ICA Group Wealth Management LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 522 shares during the last quarter. KB Financial Partners LLC bought a new position in Marathon Oil in the first quarter valued at approximately $31,000. First Capital Advisors Group LLC. bought a new position in Marathon Oil in the second quarter valued at approximately $31,000. Brown Brothers Harriman & Co. increased its stake in Marathon Oil by 90.6% in the first quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 647 shares during the last quarter. Finally, Covestor Ltd increased its stake in Marathon Oil by 76.6% in the first quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 619 shares during the last quarter. Institutional investors and hedge funds own 76.62% of the company’s stock.
About Marathon Oil
Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. 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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