Brokerages Set Marathon Oil Co. (NYSE:MRO) Price Target at $31.09

Marathon Oil Co. (NYSE:MRO) has earned an average rating of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $31.12.

A number of research analysts have weighed in on MRO shares. Mizuho cut their price target on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Citigroup reduced their target price on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Piper Sandler lifted their price target on Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Scotiabank boosted their price target on Marathon Oil from $27.61 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, September 12th.

Marathon Oil Price Performance

Shares of MRO stock opened at $27.74 on Tuesday. The firm has a market capitalization of $15.52 billion, a price-to-earnings ratio of 10.79 and a beta of 2.16. Marathon Oil has a 12-month low of $21.81 and a 12-month 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 has a fifty day moving average of $27.58 and a 200-day moving average of $27.74.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company earned $0.48 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Oil will post 2.53 earnings per share for the current year.

Marathon Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a $0.11 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.59%. Marathon Oil’s payout ratio is 17.12%.

Insider Transactions at Marathon Oil

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction on 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 directly owns 76,828 shares in the company, valued at $2,090,489.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $2,750,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Oil

A number of hedge funds and other institutional investors have recently modified their holdings of MRO. Park Avenue Securities LLC increased its position in Marathon Oil by 4.8% during the first quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer’s stock worth $257,000 after acquiring an additional 415 shares during the period. Wahed Invest LLC raised its position in shares of Marathon Oil by 4.2% in the fourth quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer’s stock valued at $249,000 after buying an additional 419 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Marathon Oil by 1.9% in the second quarter. Gradient Investments LLC now owns 22,829 shares of the oil and gas producer’s stock valued at $655,000 after buying an additional 428 shares during the period. Trueblood Wealth Management LLC grew its position in Marathon Oil by 4.8% during the first quarter. Trueblood Wealth Management LLC now owns 9,559 shares of the oil and gas producer’s stock worth $271,000 after buying an additional 439 shares in the last quarter. Finally, Argent Capital Management LLC increased its stake in Marathon Oil by 0.5% during the 1st quarter. Argent Capital Management LLC now owns 87,563 shares of the oil and gas producer’s stock worth $2,482,000 after acquiring an additional 441 shares during the period. Institutional investors and hedge funds 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.