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

StockNews.com began coverage on shares of Marathon Oil (NYSE:MRO) in a note issued to investors on Wednesday. The firm set a “buy” rating on the oil and gas producer’s stock.

A number of other research firms have also recently issued reports on MRO. UBS Group cut their target price on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Barclays cut their price objective on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company reduced their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Citigroup dropped their price target on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Piper Sandler boosted their price objective on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Marathon Oil has a consensus rating of “Moderate Buy” and a consensus target price of $31.12.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $25.88 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The firm has a 50-day simple moving average of $27.34 and a 200 day simple moving average of $27.53. Marathon Oil has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company has a market cap of $14.48 billion, a PE ratio of 10.07 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. On average, sell-side analysts anticipate that Marathon Oil will post 2.43 EPS for the current year.

Insider Activity

In other news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the transaction, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Marathon Oil news, 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 value of $1,033,980.00. Following the transaction, the vice president now owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction on 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 sale, the insider now owns 100,000 shares of the company’s stock, valued at $2,750,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Marathon Oil

A number of institutional investors have recently bought and sold shares of the stock. HWG Holdings LP purchased a new stake in Marathon Oil during the second quarter valued at about $26,000. Founders Capital Management lifted its position in shares of Marathon Oil by 100.0% in the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 500 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in Marathon Oil in the 2nd quarter worth approximately $29,000. Grove Bank & Trust grew its position in Marathon Oil by 77.4% during the 2nd quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Finally, Hilltop National Bank raised its stake in Marathon Oil by 89.5% during the 2nd quarter. Hilltop National Bank now owns 1,620 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 765 shares during the period. Hedge funds and other 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.