Brokers Issue Forecasts for Marathon Oil Co.’s Q2 2023 Earnings (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO – Get Rating) – Stock analysts at Capital One Financial dropped their Q2 2023 earnings estimates for shares of Marathon Oil in a research note issued on Sunday, May 21st. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will post earnings of $0.46 per share for the quarter, down from their prior forecast of $0.63. The consensus estimate for Marathon Oil’s current full-year earnings is $2.75 per share. Capital One Financial also issued estimates for Marathon Oil’s Q3 2023 earnings at $0.41 EPS, Q4 2023 earnings at $0.48 EPS, FY2023 earnings at $2.02 EPS, FY2024 earnings at $3.04 EPS and FY2025 earnings at $2.99 EPS.

Marathon Oil (NYSE:MRO – Get Rating) last issued its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Marathon Oil had a net margin of 34.22% and a return on equity of 24.17%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year.

MRO has been the topic of a number of other research reports. UBS Group initiated coverage on shares of Marathon Oil in a report on Wednesday, April 19th. They set a “buy” rating and a $33.00 target price on the stock. Mizuho decreased their price target on shares of Marathon Oil from $31.00 to $28.00 in a report on Friday, May 19th. Piper Sandler decreased their price target on shares of Marathon Oil from $39.00 to $35.00 in a report on Thursday, May 18th. Truist Financial upped their price target on shares of Marathon Oil from $34.00 to $39.00 in a report on Tuesday, April 11th. Finally, Citigroup raised shares of Marathon Oil from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, March 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.06.

Marathon Oil Trading Down 2.9 %

Shares of MRO stock opened at $23.33 on Wednesday. The company’s fifty day simple moving average is $23.69 and its two-hundred day simple moving average is $26.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.68. Marathon Oil has a 1 year low of $19.42 and a 1 year high of $33.42. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 0.43 and a beta of 2.39.

Institutional Trading of Marathon Oil

Institutional investors have recently modified their holdings of the company. Carl Stuart Investment Advisor Inc. bought a new position in Marathon Oil in the first quarter worth about $15,200,230,000. ICA Group Wealth Management LLC raised its stake in Marathon Oil by 92.6% in the first quarter. ICA Group Wealth Management LLC now owns 1,086 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 522 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Marathon Oil in the fourth quarter worth about $29,000. HWG Holdings LP bought a new position in Marathon Oil in the third quarter worth about $25,000. Finally, Manchester Capital Management LLC bought a new position in Marathon Oil in the first quarter worth about $28,000. 77.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Oil

In other news, CAO Rob L. White sold 5,000 shares of the stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $22.85, for a total transaction of $114,250.00. Following the completion of the sale, the chief accounting officer now directly owns 39,344 shares in the company, valued at $899,010.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.

Marathon Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Wednesday, May 17th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $0.40 annualized dividend and a yield of 1.71%. Marathon Oil’s payout ratio is 9.83%.

About Marathon Oil

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Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S.