Brokerages Set Marathon Oil Co. (NYSE:MRO) Target Price at $31.87

Marathon Oil Co. (NYSE:MRO) has received an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $31.65.

A number of equities analysts recently commented on the stock. Mizuho dropped their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday. Citigroup dropped their price target on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Piper Sandler lifted their price objective on Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Wells Fargo & Company reissued an “equal weight” rating and set a $29.00 target price (down previously from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th.

Marathon Oil Price Performance

Marathon Oil stock opened at $27.89 on Friday. Marathon Oil has a 52-week low of $21.81 and a 52-week high of $30.06. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $27.68 and its 200 day moving average is $27.53. The company has a market cap of $15.60 billion, a price-to-earnings ratio of 11.52 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.06). The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 EPS. Sell-side analysts forecast that Marathon Oil will post 2.7 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid 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 1.58%. Marathon Oil’s payout ratio is presently 18.18%.

Insider Transactions at Marathon Oil

In related news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the sale, the vice president now owns 76,828 shares of the company’s stock, valued at $2,090,489.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Trading of Marathon Oil

Several institutional investors and hedge funds have recently bought and sold shares of the business. HWG Holdings LP purchased a new position in shares of Marathon Oil during the second quarter worth $26,000. Riverview Trust Co acquired a new stake in Marathon Oil during the 1st quarter worth about $27,000. Benjamin Edwards Inc. raised its stake 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 valued at $28,000 after buying an additional 678 shares during the last quarter. Founders Capital Management lifted its holdings in shares of Marathon Oil by 100.0% in the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 500 shares during the period. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Marathon Oil in the second quarter worth about $29,000. 77.24% of the stock is currently owned by institutional investors and hedge funds.

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.