StockNews.com Initiates Coverage on Marathon Oil (NYSE:MRO)

Equities researchers at StockNews.com assumed coverage on shares of Marathon Oil (NYSE:MRO) in a research report issued on Sunday. The firm set a “buy” rating on the oil and gas producer’s stock.

Several other equities analysts have also commented on MRO. Susquehanna reaffirmed a “positive” rating and set a $33.00 price target on shares of Marathon Oil in a research report on Monday, April 22nd. Mizuho increased their price objective on shares of Marathon Oil from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Morgan Stanley increased their price objective on shares of Marathon Oil from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. UBS Group dropped 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. Finally, Piper Sandler raised their price target on shares of Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.86.

Marathon Oil Trading Up 0.1 %

Shares of MRO opened at $27.32 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average is $27.41 and its two-hundred day moving average is $25.56. Marathon Oil has a twelve month low of $21.81 and a twelve month high of $30.06. The firm has a market capitalization of $15.41 billion, a P/E ratio of 11.29 and a beta of 2.18.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 earnings per share. On average, research analysts predict that Marathon Oil will post 2.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Patrick Wagner sold 36,094 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total transaction of $997,999.10. Following the sale, the insider now owns 140,829 shares in the company, valued at $3,893,921.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total value of $997,999.10. Following the completion of the sale, the insider now directly owns 140,829 shares of the company’s stock, valued at $3,893,921.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dane E. Whitehead sold 73,233 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $27.06, for a total transaction of $1,981,684.98. Following the completion of the sale, the chief financial officer now directly owns 152,008 shares of the company’s stock, valued at $4,113,336.48. The disclosure for this sale can be found here. Insiders have sold 160,716 shares of company stock worth $4,397,507 in the last ninety days. 0.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Oil

A number of hedge funds have recently bought and sold shares of the stock. Riverview Trust Co bought a new position in Marathon Oil during the 1st quarter valued at about $27,000. Benjamin Edwards Inc. grew its position in shares of Marathon Oil by 226.0% during the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 678 shares during the period. Fortis Group Advisors LLC grew its position in shares of Marathon Oil by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 618 shares during the period. Manchester Capital Management LLC acquired a new stake in shares of Marathon Oil during the 4th quarter worth approximately $31,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Marathon Oil during the 4th quarter worth approximately $35,000. 77.24% of the stock is owned by institutional investors.

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.