Marathon Oil (NYSE:MRO) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Marathon Oil (NYSE:MROFree Report) in a research report report published on Sunday morning. The firm issued a buy rating on the oil and gas producer’s stock.

MRO has been the subject of several other research reports. Piper Sandler reduced their target price on shares of Marathon Oil from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Truist Financial lowered their target price on Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Citigroup reduced their target price on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Scotiabank upped their price target on shares of Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.94.

Get Our Latest Stock Report on Marathon Oil

Marathon Oil Price Performance

NYSE:MRO opened at $28.55 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.69. The stock’s 50-day simple moving average is $27.76 and its 200 day simple moving average is $27.74. The company has a market cap of $15.97 billion, a P/E ratio of 12.25 and a beta of 2.16. Marathon Oil has a 52-week low of $21.81 and a 52-week high of $30.06.

Marathon Oil (NYSE:MROGet Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Marathon Oil will post 2.34 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.54%. Marathon Oil’s dividend payout ratio is 18.88%.

Insider Buying and Selling

In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $28.84, for a total transaction of $1,040,950.96. Following the transaction, the insider now directly owns 104,735 shares in the company, valued at approximately $3,020,557.40. This trade represents a 25.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of the company’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 approximately $2,090,489.88. The trade was a 33.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 382,693 shares of company stock worth $10,964,251 in the last ninety days. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Marathon Oil

A number of institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in shares of Marathon Oil by 10.2% in the 3rd quarter. Pacer Advisors Inc. now owns 14,727,190 shares of the oil and gas producer’s stock worth $392,185,000 after buying an additional 1,357,369 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Marathon Oil by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,461,323 shares of the oil and gas producer’s stock valued at $242,582,000 after acquiring an additional 328,184 shares during the last quarter. LSV Asset Management grew its position in shares of Marathon Oil by 10.1% during the 2nd quarter. LSV Asset Management now owns 6,443,713 shares of the oil and gas producer’s stock valued at $184,741,000 after acquiring an additional 593,100 shares during the period. Charles Schwab Investment Management Inc. increased its position in Marathon Oil by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,267,506 shares of the oil and gas producer’s stock worth $140,274,000 after buying an additional 19,566 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Marathon Oil by 6.3% during the 3rd quarter. Fisher Asset Management LLC now owns 2,884,151 shares of the oil and gas producer’s stock valued at $76,805,000 after buying an additional 171,450 shares during the last quarter. 77.24% of the stock is owned by institutional investors.

Marathon Oil Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Marathon Oil (NYSE:MRO)

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