Marathon Oil (NYSE:MRO) Price Target Cut to $34.00 by Analysts at Barclays

Marathon Oil (NYSE:MRO) had its price objective reduced by equities research analysts at Barclays from $35.00 to $34.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s price target indicates a potential upside of 20.87% from the stock’s previous close.

Several other research firms also recently commented on MRO. Capital One Financial downgraded Marathon Oil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 5th. Citigroup cut their price target on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company lowered their price objective on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday. StockNews.com started coverage on shares of Marathon Oil in a research note on Saturday, September 28th. They issued a “buy” rating for the company. Finally, UBS Group lowered their price target on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.09.

Marathon Oil Stock Up 0.6 %

Shares of NYSE MRO traded up $0.16 during midday trading on Thursday, reaching $28.13. The company’s stock had a trading volume of 1,811,553 shares, compared to its average volume of 8,374,361. The stock has a 50 day simple moving average of $27.43 and a 200-day simple moving average of $27.68. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 11.69 and a beta of 2.16. Marathon Oil has a fifty-two week low of $21.81 and a fifty-two week high of $30.06.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts predict that Marathon Oil will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the sale, the insider now owns 100,000 shares of the company’s stock, valued at $2,750,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Marathon Oil

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement Association of Colorado lifted its stake in Marathon Oil by 374.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 73,592 shares of the oil and gas producer’s stock valued at $1,778,000 after purchasing an additional 58,081 shares during the last quarter. Blackstone Inc. lifted its stake in shares of Marathon Oil by 23.1% in the 4th quarter. Blackstone Inc. now owns 79,901 shares of the oil and gas producer’s stock valued at $1,930,000 after acquiring an additional 15,000 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Marathon Oil in the 4th quarter valued at $5,051,000. Quadrature Capital Ltd acquired a new stake in shares of Marathon Oil during the 4th quarter valued at $6,837,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Marathon Oil by 19.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 715,772 shares of the oil and gas producer’s stock worth $20,285,000 after acquiring an additional 117,061 shares during the last quarter. Institutional investors own 77.24% of the company’s stock.

Marathon Oil Company Profile

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.