Marathon Oil (NYSE:MRO – Get Free Report) had its price objective dropped by equities researchers at Truist Financial from $38.00 to $35.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target suggests a potential upside of 47.18% from the company’s previous close.
Several other analysts also recently commented on MRO. UBS Group restated a “neutral” rating and set a $28.00 target price (down from $34.00) on shares of Marathon Oil in a report on Thursday, December 14th. Benchmark lowered their price objective on shares of Marathon Oil from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, January 12th. Stifel Nicolaus lowered their price objective on shares of Marathon Oil from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, November 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $25.00 price objective (down from $27.00) on shares of Marathon Oil in a report on Monday, December 11th. Finally, Susquehanna lifted their price objective on shares of Marathon Oil from $34.00 to $35.00 and gave the company a “positive” rating in a report on Friday, November 3rd. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.16.
Check Out Our Latest Research Report on MRO
Marathon Oil Stock Performance
Shares of MRO stock opened at $23.78 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.64. The company has a market capitalization of $13.92 billion, a P/E ratio of 9.29 and a beta of 2.22. The company’s 50 day moving average price is $23.41 and its two-hundred day moving average price is $25.20. Marathon Oil has a 52 week low of $20.57 and a 52 week high of $29.56.
Marathon Oil (NYSE:MRO – Get Free Report) last announced its earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Marathon Oil had a net margin of 23.20% and a return on equity of 14.06%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. On average, analysts expect that Marathon Oil will post 2.62 earnings per share for the current fiscal year.
Marathon Oil declared that its board has approved a share buyback program on Wednesday, November 1st that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the oil and gas producer to purchase up to 14.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Hedge Funds Weigh In On Marathon Oil
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Marathon Oil by 57.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 607,336 shares of the oil and gas producer’s stock worth $16,246,000 after purchasing an additional 221,388 shares during the period. LSV Asset Management boosted its position in Marathon Oil by 3.3% during the third quarter. LSV Asset Management now owns 4,692,600 shares of the oil and gas producer’s stock worth $125,527,000 after purchasing an additional 150,440 shares during the period. Pathstone Family Office LLC boosted its position in Marathon Oil by 222.3% during the third quarter. Pathstone Family Office LLC now owns 67,851 shares of the oil and gas producer’s stock worth $1,815,000 after purchasing an additional 46,796 shares during the period. Barclays PLC boosted its position in Marathon Oil by 46.1% during the second quarter. Barclays PLC now owns 1,061,516 shares of the oil and gas producer’s stock worth $24,436,000 after purchasing an additional 334,727 shares during the period. Finally, Brandywine Global Investment Management LLC lifted its holdings in shares of Marathon Oil by 9.3% during the third quarter. Brandywine Global Investment Management LLC now owns 849,254 shares of the oil and gas producer’s stock worth $22,718,000 after buying an additional 71,988 shares in the last quarter. 76.62% of the stock is owned by institutional investors.
About Marathon Oil
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: americanbankingnews.com
