Marathon Oil Co. (NYSE:MRO) Plans Quarterly Dividend of $0.11

Marathon Oil Co. (NYSE:MRO) declared a quarterly dividend on Wednesday, July 31st, RTT News reports. Stockholders of record on Wednesday, August 21st will be given a dividend of 0.11 per share by the oil and gas producer on Tuesday, September 10th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.57%.

Marathon Oil has raised its dividend by an average of 72.4% per year over the last three years. Marathon Oil has a payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Marathon Oil to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 14.1%.

Marathon Oil Price Performance

NYSE MRO traded up $0.41 during trading hours on Wednesday, reaching $28.05. The company’s stock had a trading volume of 6,679,494 shares, compared to its average volume of 9,157,396. The stock has a market cap of $15.82 billion, a PE ratio of 11.42 and a beta of 2.19. Marathon Oil has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company’s 50-day moving average is $27.99 and its two-hundred day moving average is $26.45. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.48 and a current ratio of 0.55.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. Analysts forecast that Marathon Oil will post 2.79 EPS for the current year.

Wall Street Analysts Forecast Growth

MRO has been the topic of a number of recent research reports. Piper Sandler upped their target price on shares of Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Scotiabank lowered shares of Marathon Oil from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $45.00 to $29.00 in a report on Friday, July 12th. Morgan Stanley upped their target price on shares of Marathon Oil from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Benchmark reiterated a “buy” rating and set a $32.00 price objective on shares of Marathon Oil in a report on Friday, May 3rd. Finally, Susquehanna increased their price objective on shares of Marathon Oil from $33.00 to $39.00 and gave the stock a “positive” rating in a report on Monday, July 22nd. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.14.

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.