Zacks Research Weighs in on Marathon Oil Co.’s Q1 2024 Earnings (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO) – Stock analysts at Zacks Research cut their Q1 2024 EPS estimates for Marathon Oil in a report released on Wednesday, April 17th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas producer will earn $0.49 per share for the quarter, down from their previous estimate of $0.50. The consensus estimate for Marathon Oil’s current full-year earnings is $2.68 per share. Zacks Research also issued estimates for Marathon Oil’s Q1 2026 earnings at $0.63 EPS.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year.

MRO has been the topic of a number of other research reports. Argus upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Thursday, March 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Marathon Oil in a research report on Tuesday, March 5th. Raymond James reduced their price objective on shares of Marathon Oil from $35.00 to $32.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. The Goldman Sachs Group upped their price objective on shares of Marathon Oil from $26.50 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Finally, UBS Group reduced their price objective on shares of Marathon Oil from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.66.

Marathon Oil Trading Down 2.4 %

MRO opened at $27.68 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.40 and a quick ratio of 0.35. Marathon Oil has a fifty-two week low of $21.63 and a fifty-two week high of $30.06. The firm has a market capitalization of $15.82 billion, a PE ratio of 10.81 and a beta of 2.22. The company’s 50-day moving average is $26.04 and its 200 day moving average is $25.32.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, February 20th. Marathon Oil’s dividend payout ratio is currently 17.19%.

Insider Transactions at Marathon Oil

In related news, CEO Lee M. Tillman sold 80,647 shares of Marathon Oil stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $2,172,630.18. Following the transaction, the chief executive officer now owns 596,330 shares in the company, valued at approximately $16,065,130.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Lee M. Tillman sold 80,647 shares of Marathon Oil stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $2,172,630.18. Following the transaction, the chief executive officer now owns 596,330 shares in the company, valued at approximately $16,065,130.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick Wagner sold 39,969 shares of Marathon Oil stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $26.89, for a total transaction of $1,074,766.41. Following the completion of the transaction, the insider now owns 176,923 shares in the company, valued at approximately $4,757,459.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 281,332 shares of company stock valued at $7,644,903. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Marathon Oil

Large investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC raised its position in Marathon Oil by 92.6% in the 1st quarter. ICA Group Wealth Management LLC now owns 1,086 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 522 shares during the period. Smithfield Trust Co increased its position in shares of Marathon Oil by 367.9% in the third quarter. Smithfield Trust Co now owns 1,020 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 802 shares during the period. NBC Securities Inc. purchased a new position in shares of Marathon Oil in the third quarter valued at about $27,000. Riverview Trust Co purchased a new position in shares of Marathon Oil in the first quarter valued at about $27,000. Finally, Fortis Group Advisors LLC increased its position in shares of Marathon Oil by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 618 shares during the period. Hedge funds and other institutional investors own 77.24% of the company’s stock.

About Marathon Oil

Marathon Oil Corporation, an independent exploration and production company, engages in exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas in the United States and internationally. The company also produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol.