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

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

MRO has been the subject of several other research reports. Mizuho upped their target price on shares of Marathon Oil from $33.00 to $34.00 and gave the stock a neutral rating in a research note on Wednesday, June 5th. Piper Sandler increased their price target on shares of Marathon Oil from $34.00 to $37.00 and gave the company an overweight rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. restated a neutral rating and set a $33.00 price target on shares of Marathon Oil in a research report on Wednesday, July 17th. Susquehanna increased their price target on shares of Marathon Oil from $33.00 to $39.00 and gave the company a positive rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company restated an equal weight rating and set a $29.00 price target (down previously from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $32.03.

Marathon Oil Stock Performance

MRO opened at $26.72 on Wednesday. Marathon Oil has a 1-year low of $21.81 and a 1-year 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 company has a market cap of $15.07 billion, a price-to-earnings ratio of 11.04 and a beta of 2.16. The company’s fifty day moving average price is $27.99 and its two-hundred day moving average price is $27.39.

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 during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company earned $0.48 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. On average, analysts expect that Marathon Oil will post 2.76 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Wednesday, August 21st. Marathon Oil’s dividend payout ratio is currently 18.18%.

Institutional Investors Weigh In On Marathon Oil

Institutional investors and hedge funds have recently bought and sold shares of the stock. HWG Holdings LP purchased a new stake in Marathon Oil in the second quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in Marathon Oil in the first quarter valued at approximately $27,000. Benjamin Edwards Inc. raised its stake in Marathon Oil by 226.0% in the first quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 678 shares in the last quarter. Founders Capital Management raised its stake in Marathon Oil by 100.0% in the second 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 in the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in shares of Marathon Oil during the second quarter worth approximately $29,000. 77.24% of the stock is owned by hedge funds and other institutional investors.

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.