Marathon Oil (NYSE:MRO) Releases Earnings Results, Beats Expectations By $0.03 EPS

Marathon Oil (NYSE:MRO) announced its quarterly earnings results on Wednesday. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03, Briefing.com reports. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the business earned $0.77 EPS. Marathon Oil’s revenue for the quarter was down 1.2% compared to the same quarter last year.

Marathon Oil Trading Down 1.5 %

NYSE:MRO traded down $0.43 on Thursday, reaching $28.37. The company’s stock had a trading volume of 5,132,396 shares, compared to its average volume of 8,045,480. Marathon Oil has a 12-month low of $21.81 and a 12-month high of $30.06. The stock has a 50 day moving average price of $27.26 and a 200 day moving average price of $27.51. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of 11.20 and a beta of 2.16. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41.

Marathon Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.11 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 1.55%. Marathon Oil’s payout ratio is 17.12%.

Insider Transactions at Marathon Oil

In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 100,000 shares of the company’s stock, valued at $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Michael A. Henderson sold 38,000 shares of the firm’s 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction dated 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 of the company’s stock, valued at approximately $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MRO shares. Mizuho decreased their target price on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Scotiabank raised their price target on shares of Marathon Oil from $27.61 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. Piper Sandler boosted their price objective on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Susquehanna decreased their target price on Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Finally, UBS Group dropped their price target on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.12.

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.