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

StockNews.com assumed coverage on shares of Marathon Oil (NYSE:MRO) in a research note released on Monday morning. The firm issued a buy rating on the oil and gas producer’s stock.

MRO has been the topic of several other research reports. Piper Sandler increased their target price on Marathon Oil from $34.00 to $37.00 and gave the stock an overweight rating in a research note on Thursday, August 15th. Susquehanna increased their price target on Marathon Oil from $33.00 to $39.00 and gave the company a positive rating in a research report on Monday, July 22nd. Wells Fargo & Company reaffirmed an equal weight rating and issued a $29.00 price target (down previously from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $33.00 price target on shares of Marathon Oil in a research report on Wednesday, July 17th. Finally, Benchmark reaffirmed a buy rating and issued a $32.00 price target on shares of Marathon Oil in a research report on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $32.40.

Marathon Oil Price Performance

MRO opened at $27.73 on Monday. The stock’s 50-day moving average price is $27.99 and its 200 day moving average price is $26.96. Marathon Oil has a 12-month low of $21.81 and a 12-month high of $30.06. 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 firm has a market cap of $15.51 billion, a price-to-earnings ratio of 11.46 and a beta of 2.19.

Marathon Oil (NYSE:MRO) last posted its 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 return on equity of 13.81% and a net margin of 22.12%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company posted $0.48 EPS. Marathon Oil’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Oil will post 2.77 earnings per share for the current year.

Marathon Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a yield of 1.59%. Marathon Oil’s dividend payout ratio is presently 18.18%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MRO. HWG Holdings LP purchased a new position in Marathon Oil during the 2nd quarter worth approximately $26,000. Riverview Trust Co purchased a new position in Marathon Oil during the 1st quarter worth approximately $27,000. Benjamin Edwards Inc. grew its stake 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 buying an additional 678 shares during the last quarter. Founders Capital Management grew its stake 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 worth $29,000 after buying an additional 500 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in Marathon Oil during the 2nd quarter worth approximately $29,000. 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.