Marathon Oil (NYSE:MRO) PT Lowered to $28.00

Marathon Oil (NYSE:MRO) had its target price reduced by Citigroup from $29.00 to $28.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

A number of other brokerages have also commented on MRO. UBS Group decreased their price target on shares of Marathon Oil from $32.00 to $30.00 and set a neutral rating for the company in a research note on Tuesday, August 13th. Wells Fargo & Company reissued an equal weight rating and set a $29.00 target price (down from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. Piper Sandler raised 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. StockNews.com initiated coverage on Marathon Oil in a research note on Wednesday, September 4th. They set a buy rating for the company. Finally, Scotiabank lowered their price objective on Marathon Oil from $29.00 to $27.61 and set a sector perform rating for the company in a research note on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marathon Oil has a consensus rating of Moderate Buy and an average target price of $32.03.

Marathon Oil Price Performance

MRO stock opened at $26.72 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. The company’s 50-day moving average is $27.99 and its 200-day moving average is $27.42. The stock has a market capitalization of $15.07 billion, a PE ratio of 11.04 and a beta of 2.16. Marathon Oil has a 1 year low of $21.81 and a 1 year high of $30.06.

Marathon Oil (NYSE:MRO) last announced its quarterly 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). The firm 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 firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 EPS. Equities research analysts expect that Marathon Oil will post 2.76 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 1.65%. Marathon Oil’s payout ratio is currently 18.18%.

Hedge Funds Weigh In On Marathon Oil

Several institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Marathon Oil during the 4th quarter worth $3,209,000. Truist Financial Corp increased its stake in shares of Marathon Oil by 15.5% in the fourth quarter. Truist Financial Corp now owns 106,274 shares of the oil and gas producer’s stock worth $2,568,000 after purchasing an additional 14,276 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Marathon Oil in the fourth quarter valued at approximately $283,000. Private Advisor Group LLC lifted its stake in shares of Marathon Oil by 19.7% during the 4th quarter. Private Advisor Group LLC now owns 37,588 shares of the oil and gas producer’s stock valued at $908,000 after buying an additional 6,193 shares in the last quarter. Finally, Lincoln National Corp boosted its holdings in Marathon Oil by 31.7% in the 4th quarter. Lincoln National Corp now owns 11,737 shares of the oil and gas producer’s stock worth $284,000 after buying an additional 2,824 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.