Marathon Oil (NYSE:MRO) PT Raised to $34.00 at Piper Sandler

Marathon Oil (NYSE:MRO) had its price objective lifted by Piper Sandler from $32.00 to $34.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price target points to a potential upside of 23.64% from the stock’s current price.

MRO has been the subject of a number of other reports. UBS Group decreased their target price on Marathon Oil from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Argus raised Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Thursday, March 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $33.00 target price on shares of Marathon Oil in a report on Tuesday, March 5th. Truist Financial upped their price target on shares of Marathon Oil from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.76.

Marathon Oil Stock Up 0.4 %

Shares of NYSE:MRO opened at $27.50 on Friday. The firm has a 50 day simple moving average of $26.23 and a 200-day simple moving average of $25.35. Marathon Oil has a twelve month low of $21.63 and a twelve month high of $30.06. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $15.72 billion, a PE ratio of 10.74 and a beta of 2.22.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company earned $0.88 earnings per share. Marathon Oil’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that Marathon Oil will post 2.74 EPS for the current fiscal year.

Insider Transactions at Marathon Oil

In related news, insider Patrick Wagner sold 39,969 shares of the company’s 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 transaction, the insider now owns 176,923 shares of the company’s stock, valued at $4,757,459.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Michael A. Henderson sold 51,389 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $27.59, for a total value of $1,417,822.51. Following the completion of the transaction, the vice president now owns 114,828 shares in the company, valued at approximately $3,168,104.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Wagner sold 39,969 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 176,923 shares in the company, valued at $4,757,459.47. The disclosure for this sale can be found here. In the last three months, insiders sold 281,332 shares of company stock valued at $7,644,903. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Marathon Oil

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oak Thistle LLC acquired a new position in Marathon Oil during the fourth quarter worth $1,440,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Marathon Oil by 57.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 607,336 shares of the oil and gas producer’s stock worth $16,246,000 after buying an additional 221,388 shares during the last quarter. LSV Asset Management boosted its position in shares of Marathon Oil by 3.3% in the 3rd quarter. LSV Asset Management now owns 4,692,600 shares of the oil and gas producer’s stock worth $125,527,000 after buying an additional 150,440 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Marathon Oil in the 4th quarter valued at about $3,209,000. Finally, Pathstone Family Office LLC increased its holdings in Marathon Oil by 222.3% during the 3rd quarter. Pathstone Family Office LLC now owns 67,851 shares of the oil and gas producer’s stock valued at $1,815,000 after acquiring an additional 46,796 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Marathon Oil Company Profile

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.