JPMorgan Chase & Co. Trims Marathon Oil (NYSE:MRO) Target Price to $30.00

Marathon Oil (NYSE:MRO) had its target price reduced by JPMorgan Chase & Co. from $33.00 to $30.00 in a research note published on Thursday morning, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Several other analysts also recently issued reports on MRO. Piper Sandler lifted their target price on Marathon Oil from $34.00 to $37.00 and gave the company an overweight rating in a research note on Thursday, August 15th. Citigroup lowered their target price on shares of Marathon Oil from $29.00 to $28.00 and set a neutral rating on the stock in a report on Thursday, September 5th. StockNews.com started coverage on shares of Marathon Oil in a research note on Thursday. They set a buy rating for the company. UBS Group decreased their price target on shares of Marathon Oil from $32.00 to $30.00 and set a neutral rating on the stock in a research note on Tuesday, August 13th. Finally, Capital One Financial lowered Marathon Oil from a strong-buy rating to a hold rating in a research report on Wednesday, June 5th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Marathon Oil has an average rating of Moderate Buy and a consensus target price of $31.87.

Marathon Oil Price Performance

NYSE MRO opened at $26.13 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. Marathon Oil has a 12 month low of $21.81 and a 12 month high of $30.06. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 10.80 and a beta of 2.16. The company’s 50 day moving average is $27.75 and its two-hundred day moving average is $27.47.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data 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). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts anticipate that Marathon Oil will post 2.76 earnings per share for the current year.

Marathon Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 annualized dividend and a yield of 1.68%. Marathon Oil’s payout ratio is presently 18.18%.

Insiders Place Their Bets

In other news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the sale, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Marathon Oil

Several hedge funds and other institutional investors have recently modified their holdings of the business. Heritage Wealth Management Inc. purchased a new stake in Marathon Oil in the second quarter worth $1,588,000. Sanctuary Advisors LLC purchased a new position in Marathon Oil in the 2nd quarter worth about $1,413,000. Cetera Investment Advisers lifted its holdings in Marathon Oil by 15.7% during the 2nd quarter. Cetera Investment Advisers now owns 144,674 shares of the oil and gas producer’s stock valued at $4,148,000 after buying an additional 19,592 shares in the last quarter. HWG Holdings LP purchased a new stake in Marathon Oil in the 2nd quarter valued at about $26,000. Finally, EP Wealth Advisors LLC bought a new position in Marathon Oil in the 2nd quarter worth about $229,000. 77.24% of the stock is currently owned by hedge funds and other 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.