Brokerages Set Marathon Oil Co. (NYSE:MRO) PT at $31.12

Marathon Oil Co. (NYSE:MRO) has received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.12.

Several equities analysts have recently weighed in on the company. Citigroup reduced their price target on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Mizuho decreased their target price on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Barclays cut their price target on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company decreased their price target on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Finally, Truist Financial decreased their target price on Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

Insider Activity

In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the sale, the insider now owns 100,000 shares in the company, valued at approximately $2,750,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Michael A. Henderson sold 38,000 shares of the 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 sale, the vice president now directly owns 76,828 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. This 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

Institutional investors have recently bought and sold shares of the stock. Norden Group LLC bought a new stake in Marathon Oil during the 1st quarter valued at approximately $1,341,000. Private Advisor Group LLC boosted its position in shares of Marathon Oil by 11.0% during the first quarter. Private Advisor Group LLC now owns 41,726 shares of the oil and gas producer’s stock valued at $1,183,000 after purchasing an additional 4,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Marathon Oil by 24.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 126,308 shares of the oil and gas producer’s stock worth $3,580,000 after purchasing an additional 24,547 shares during the period. Fidelis Capital Partners LLC bought a new position in Marathon Oil in the first quarter worth $109,000. Finally, Nordea Investment Management AB lifted its position in Marathon Oil by 4.8% during the first quarter. Nordea Investment Management AB now owns 430,339 shares of the oil and gas producer’s stock valued at $12,157,000 after buying an additional 19,647 shares during the period. 77.24% of the stock is owned by institutional investors.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $28.79 on Friday. The firm has a market capitalization of $16.10 billion, a PE ratio of 11.20 and a beta of 2.16. 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 company has a 50-day moving average price of $27.26 and a two-hundred day moving average price of $27.51. Marathon Oil has a twelve month low of $21.81 and a twelve month high of $30.06.

Marathon Oil (NYSE:MRO) last released its quarterly earnings data 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). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts forecast that Marathon Oil will post 2.41 EPS for the current year.

Marathon Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 1.53%. Marathon Oil’s payout ratio is 17.12%.

About Marathon Oil

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.