Vetr downgraded shares of Marathon Oil Corporation (NYSE:MRO) from a strong-buy rating to a buy rating in a report released on Monday. The firm currently has $14.22 target price on the oil and gas producer’s stock.
Several other research analysts have also issued reports on MRO. Scotiabank set a $21.00 price target on Marathon Oil Corporation and gave the stock a buy rating in a research report on Saturday, May 6th. Morgan Stanley upgraded Marathon Oil Corporation from an underweight rating to an equal weight rating and reduced their price target for the stock from $17.00 to $14.00 in a research report on Wednesday, June 21st. Jefferies Group LLC set a $16.00 price target on Marathon Oil Corporation and gave the stock a hold rating in a research report on Saturday, June 24th. BMO Capital Markets restated a hold rating and issued a $17.00 price target on shares of Marathon Oil Corporation in a research report on Thursday, April 13th. Finally, Stifel Nicolaus initiated coverage on Marathon Oil Corporation in a research report on Wednesday, April 12th. They issued a hold rating and a $17.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $17.30.
Marathon Oil Corporation (NYSE MRO) opened at 12.20 on Monday. The stock’s market cap is $10.37 billion. The firm has a 50-day moving average price of $11.88 and a 200 day moving average price of $14.35. Marathon Oil Corporation has a 52-week low of $11.20 and a 52-week high of $19.28. Marathon Oil Corporation also was the recipient of some unusual options trading on Monday. Investors bought 1,294 call options on the company. This represents an increase of 127% compared to the typical daily volume of 569 call options.
Marathon Oil Corporation (NYSE:MRO) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.10. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.23) earnings per share. Equities analysts anticipate that Marathon Oil Corporation will post ($0.40) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Monday, August 14th. Marathon Oil Corporation’s dividend payout ratio is -2.55%.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Marathon Oil Corporation by 4,827.5% in the first quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock valued at $1,693,396,000 after buying an additional 105,001,815 shares in the last quarter. Vanguard Group Inc. increased its stake in Marathon Oil Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 84,869,602 shares of the oil and gas producer’s stock worth $1,340,940,000 after buying an additional 2,870,533 shares in the last quarter. State Street Corp increased its stake in Marathon Oil Corporation by 1.7% in the first quarter. State Street Corp now owns 48,712,386 shares of the oil and gas producer’s stock worth $769,660,000 after buying an additional 811,608 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Marathon Oil Corporation by 0.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 48,519,793 shares of the oil and gas producer’s stock worth $766,613,000 after buying an additional 187,090 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Marathon Oil Corporation by 8.9% in the first quarter. Geode Capital Management LLC now owns 8,359,359 shares of the oil and gas producer’s stock worth $131,890,000 after buying an additional 679,869 shares in the last quarter. 81.28% of the stock is currently owned by hedge funds and other institutional investors.
About Marathon Oil Corporation
Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.
To view Vetr’s full report, visit Vetr’s official website.
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