Analysts Offer Predictions for Marathon Oil Co.’s Q3 2024 Earnings (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO) – Capital One Financial dropped their Q3 2024 EPS estimates for Marathon Oil in a report released on Tuesday, September 17th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will earn $0.59 per share for the quarter, down from their prior forecast of $0.74. Capital One Financial currently has a “Hold” rating on the stock. The consensus estimate for Marathon Oil’s current full-year earnings is $2.70 per share. Capital One Financial also issued estimates for Marathon Oil’s Q4 2024 earnings at $0.49 EPS, FY2024 earnings at $2.27 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $1.62 EPS and FY2026 earnings at $1.98 EPS.

Marathon Oil (NYSE:MRO) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the company earned $0.48 EPS.

MRO has been the subject of a number of other research reports. Scotiabank dropped their target price on shares of Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. cut their price objective on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $29.00 target price (down from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. StockNews.com started coverage on Marathon Oil in a report on Friday. They set a “buy” rating for the company. Finally, Mizuho reduced their price objective on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marathon Oil has an average rating of “Moderate Buy” and an average price target of $31.65.

Marathon Oil Trading Up 0.1 %

MRO stock opened at $27.93 on Friday. The company has a market capitalization of $15.62 billion, a price-to-earnings ratio of 11.54 and a beta of 2.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. Marathon Oil has a 1-year low of $21.81 and a 1-year high of $30.06. The business has a 50 day simple moving average of $27.67 and a two-hundred day simple moving average of $27.56.

Marathon Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.44 annualized dividend and a yield of 1.58%. Marathon Oil’s payout ratio is 18.18%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MRO. HWG Holdings LP bought a new stake in Marathon Oil during the 2nd quarter valued at $26,000. Riverview Trust Co purchased a new stake in Marathon Oil in the first quarter worth about $27,000. Benjamin Edwards Inc. grew its holdings in Marathon Oil by 226.0% during the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 678 shares in the last quarter. Founders Capital Management increased its position in Marathon Oil by 100.0% during the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 500 shares during the period. Finally, Highbridge Capital Management LLC bought a new stake in shares of Marathon Oil in the 2nd quarter valued at about $29,000. 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.