Marathon Oil Co. (NYSE:MRO – Get Rating) – Stock analysts at Capital One Financial lowered their FY2022 EPS estimates for Marathon Oil in a research report issued on Friday, January 13th. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will earn $4.36 per share for the year, down from their previous estimate of $4.51. The consensus estimate for Marathon Oil’s current full-year earnings is $4.51 per share. Capital One Financial also issued estimates for Marathon Oil’s Q4 2022 earnings at $0.78 EPS, Q1 2023 earnings at $0.68 EPS, Q2 2023 earnings at $0.69 EPS, Q3 2023 earnings at $0.73 EPS, Q4 2023 earnings at $0.76 EPS, FY2023 earnings at $2.85 EPS and FY2024 earnings at $3.90 EPS.
Marathon Oil (NYSE:MRO – Get Rating) last announced its earnings results on Wednesday, November 2nd. The oil and gas producer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.05. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.07 billion. Marathon Oil had a net margin of 46.11% and a return on equity of 27.76%.
A number of other brokerages have also weighed in on MRO. Jefferies Financial Group began coverage on Marathon Oil in a research note on Wednesday, October 19th. They set a “hold” rating and a $30.00 price target on the stock. Credit Suisse Group boosted their target price on shares of Marathon Oil from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 3rd. Citigroup lowered their price objective on shares of Marathon Oil from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday. Piper Sandler cut their target price on Marathon Oil from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada raised their target price on Marathon Oil from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, November 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.38.
Marathon Oil Stock Down 1.1 %
Shares of MRO stock opened at $27.08 on Monday. The stock’s fifty day moving average price is $28.70 and its 200 day moving average price is $26.33. Marathon Oil has a 1-year low of $17.01 and a 1-year high of $33.42. The company has a market cap of $17.15 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 0.28 and a beta of 2.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 1.04.
Institutional Investors Weigh In On Marathon Oil
Several large investors have recently added to or reduced their stakes in MRO. Gulf International Bank UK Ltd grew its position in shares of Marathon Oil by 3.1% during the third quarter. Gulf International Bank UK Ltd now owns 125,500 shares of the oil and gas producer’s stock worth $2,833,000 after buying an additional 3,800 shares in the last quarter. KBC Group NV purchased a new stake in Marathon Oil in the second quarter valued at $594,000. Empirical Finance LLC boosted its stake in Marathon Oil by 5.2% in the second quarter. Empirical Finance LLC now owns 16,000 shares of the oil and gas producer’s stock valued at $360,000 after acquiring an additional 797 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Marathon Oil by 9.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,474,556 shares of the oil and gas producer’s stock valued at $55,628,000 after purchasing an additional 215,818 shares during the period. Finally, Field & Main Bank acquired a new stake in shares of Marathon Oil in the second quarter valued at approximately $72,000. 77.30% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Marathon Oil news, CFO Dane E. Whitehead sold 172,230 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $31.86, for a total value of $5,487,247.80. Following the transaction, the chief financial officer now directly owns 205,870 shares of the company’s stock, valued at approximately $6,559,018.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marathon Oil news, CFO Dane E. Whitehead sold 172,230 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $31.86, for a total transaction of $5,487,247.80. Following the completion of the sale, the chief financial officer now owns 205,870 shares of the company’s stock, valued at $6,559,018.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Patrick Wagner sold 135,371 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $32.21, for a total transaction of $4,360,299.91. Following the completion of the transaction, the insider now directly owns 134,714 shares in the company, valued at approximately $4,339,137.94. The disclosure for this sale can be found here. Insiders have sold a total of 419,601 shares of company stock valued at $13,493,768 in the last 90 days. 0.52% of the stock is owned by insiders.
Marathon Oil Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Wednesday, November 16th were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $0.36 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.08. Marathon Oil’s dividend payout ratio (DPR) is presently 6.91%.
Marathon Oil Company Profile
Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.
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