Citigroup lowered shares of Marathon Oil (NYSE:MRO – Get Rating) from a buy rating to a neutral rating in a research report sent to investors on Friday, MarketBeat reports. They currently have $24.00 price target on the oil and gas producer’s stock, down from their prior price target of $31.00.
Several other brokerages have also recently weighed in on MRO. Royal Bank of Canada boosted their price objective on Marathon Oil from $28.00 to $30.00 and gave the stock an outperform rating in a research note on Wednesday, March 30th. Wells Fargo & Company boosted their price objective on Marathon Oil from $24.00 to $34.00 and gave the stock an overweight rating in a research note on Monday, March 14th. Raymond James boosted their price objective on Marathon Oil from $31.00 to $40.00 and gave the stock a strong-buy rating in a research note on Monday, April 25th. Morgan Stanley boosted their price objective on Marathon Oil from $30.00 to $33.00 and gave the stock an equal weight rating in a research note on Monday, June 6th. Finally, Piper Sandler cut their target price on Marathon Oil to $39.00 and set a na rating on the stock in a research note on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $31.53.
NYSE:MRO opened at $22.05 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $15.60 billion, a P/E ratio of 7.68, a P/E/G ratio of 0.31 and a beta of 2.56. Marathon Oil has a 12 month low of $10.41 and a 12 month high of $33.24. The business’s 50-day moving average is $27.29 and its 200 day moving average is $23.12.
Marathon Oil (NYSE:MRO – Get Rating) last posted its earnings results on Wednesday, May 4th. The oil and gas producer reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.04. Marathon Oil had a return on equity of 16.78% and a net margin of 35.01%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was up 63.7% on a year-over-year basis. On average, research analysts forecast that Marathon Oil will post 5.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Wednesday, May 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, May 17th. This represents a $0.32 annualized dividend and a yield of 1.45%. This is a boost from Marathon Oil’s previous quarterly dividend of $0.07. Marathon Oil’s dividend payout ratio is 11.15%.
In related news, CFO Dane E. Whitehead sold 79,711 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $28.18, for a total value of $2,246,255.98. Following the transaction, the chief financial officer now owns 321,225 shares of the company’s stock, valued at $9,052,120.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick Wagner sold 65,218 shares of the stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $25.63, for a total value of $1,671,537.34. The disclosure for this sale can be found here. In the last three months, insiders sold 175,220 shares of company stock worth $4,766,850. 0.52% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of MRO. Dark Forest Capital Management LP lifted its holdings in Marathon Oil by 4,155.8% during the third quarter. Dark Forest Capital Management LP now owns 3,277 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 3,200 shares during the period. Tudor Investment Corp Et Al purchased a new stake in Marathon Oil during the third quarter worth $2,881,000. Wellington Management Group LLP lifted its holdings in Marathon Oil by 16.9% during the third quarter. Wellington Management Group LLP now owns 458,653 shares of the oil and gas producer’s stock worth $6,270,000 after buying an additional 66,220 shares during the period. United Capital Financial Advisers LLC purchased a new stake in Marathon Oil during the third quarter worth $145,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Marathon Oil during the 3rd quarter valued at $1,089,000. Institutional investors own 79.19% of the company’s stock.
About Marathon Oil (Get Rating)
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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Source: defenseworld.net