Marathon Oil (NYSE:MRO) Price Target Increased to $37.00 by Analysts at Piper Sandler

Marathon Oil (NYSE:MRO) had its target price increased by Piper Sandler from $34.00 to $37.00 in a report issued on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas producer’s stock.

A number of other analysts have also recently issued reports on the stock. Wells Fargo & Company restated an equal weight rating and set a $29.00 target price (down previously from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. UBS Group decreased their target price on Marathon Oil from $32.00 to $30.00 and set a neutral rating on the stock in a research report on Tuesday, August 13th. Capital One Financial downgraded Marathon Oil from a strong-buy rating to a hold rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $33.00 price objective on shares of Marathon Oil in a report on Wednesday, July 17th. Finally, StockNews.com began coverage on shares of Marathon Oil in a research report on Sunday, August 11th. They issued a buy rating for the company. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $32.40.

Marathon Oil Stock Performance

Marathon Oil stock opened at $28.16 on Thursday. The stock has a 50-day simple moving average of $28.01 and a 200 day simple moving average of $26.87. The stock has a market capitalization of $15.75 billion, a P/E ratio of 11.64 and a beta of 2.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.57. Marathon Oil has a 52 week low of $21.81 and a 52 week high of $30.06.

Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Analysts expect that Marathon Oil will post 2.8 earnings per share for the current year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.56%. The ex-dividend date is Wednesday, August 21st. Marathon Oil’s payout ratio is presently 18.18%.

Hedge Funds Weigh In On Marathon Oil

Hedge funds and other institutional investors have recently modified their holdings of the business. Riverview Trust Co bought a new position in shares of Marathon Oil in the 1st quarter valued at $27,000. Benjamin Edwards Inc. increased its holdings in Marathon Oil by 226.0% in the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 678 shares in the last quarter. Founders Capital Management raised its position in Marathon Oil by 100.0% in the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 500 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Marathon Oil during the second quarter valued at about $29,000. Finally, Fortis Group Advisors LLC grew its holdings in shares of Marathon Oil by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 618 shares during the last quarter. 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.