Marathon Oil (NYSE:MRO) Upgraded to “Buy” by Bank of America

Marathon Oil (NYSE:MRO) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Thursday, January 4th, Marketbeat.com reports. The firm presently has a $21.00 price target on the oil and gas producer’s stock. Bank of America’s price target suggests a potential upside of 11.58% from the company’s current price.

Other analysts also recently issued research reports about the stock. Credit Suisse Group assumed coverage on shares of Marathon Oil in a research report on Monday, December 11th. They set an “outperform” rating and a $20.00 price target for the company. BMO Capital Markets reissued a “hold” rating and set a $18.00 price target on shares of Marathon Oil in a research report on Tuesday, November 7th. Morgan Stanley reissued an “equal weight” rating on shares of Marathon Oil in a research report on Saturday, September 16th. Jefferies Group reissued a “hold” rating and set a $12.00 price target on shares of Marathon Oil in a research report on Friday, October 6th. Finally, Atlantic Securities raised shares of Marathon Oil from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $16.65.

Marathon Oil (NYSE:MRO) traded up $0.22 during trading hours on Thursday, reaching $18.82. 10,311,728 shares of the company’s stock were exchanged, compared to its average volume of 11,600,000. The stock has a market cap of $15,990.00, a price-to-earnings ratio of -7.35, a price-to-earnings-growth ratio of 64.13 and a beta of 2.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.02 and a current ratio of 2.09. Marathon Oil has a 52 week low of $10.55 and a 52 week high of $18.96.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.06. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.04 billion. Marathon Oil had a negative net margin of 148.07% and a negative return on equity of 3.02%. The company’s revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.23) EPS. equities analysts predict that Marathon Oil will post -0.31 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp acquired a new position in Marathon Oil during the third quarter worth about $149,000. Valeo Financial Advisors LLC acquired a new position in Marathon Oil during the third quarter worth about $159,000. Intact Investment Management Inc. acquired a new position in Marathon Oil during the third quarter worth about $173,000. Glenview Trust Co grew its holdings in Marathon Oil by 13.5% during the second quarter. Glenview Trust Co now owns 13,044 shares of the oil and gas producer’s stock worth $155,000 after acquiring an additional 1,550 shares during the period. Finally, Donald L. Hagan LLC acquired a new position in Marathon Oil during the third quarter worth about $179,000. 80.34% of the stock is currently owned by institutional investors.

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About Marathon Oil

Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.

Analyst Recommendations for Marathon Oil (NYSE:MRO)

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