Marathon Oil (NYSE:MRO) Price Target Cut to $28.00

Marathon Oil (NYSE:MRO) had its price target dropped by Citigroup from $29.00 to $28.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Citigroup’s target price points to a potential upside of 4.79% from the stock’s current price.

A number of other equities analysts have also recently commented on MRO. Mizuho lifted their target price on Marathon Oil from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $29.00 target price (down previously from $38.00) on shares of Marathon Oil in a report on Friday, May 31st. UBS Group dropped their target price on Marathon Oil from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Susquehanna dropped their target price on Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a report on Wednesday. Finally, Scotiabank dropped their target price on Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating for the company in a report on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.03.

Marathon Oil Stock Performance

NYSE MRO opened at $26.72 on Thursday. The stock has a market capitalization of $14.95 billion, a PE ratio of 11.04 and a beta of 2.16. The business has a 50 day simple moving average of $27.99 and a two-hundred day simple moving average of $27.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. Marathon Oil has a 1-year low of $21.81 and a 1-year high of $30.06.

Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.06). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. On average, research analysts predict that Marathon Oil will post 2.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Oil

Institutional investors and hedge funds have recently bought and sold shares of the company. HWG Holdings LP bought a new stake in Marathon Oil during the 2nd quarter valued at $26,000. Riverview Trust Co bought a new position in shares of Marathon Oil in the 1st quarter worth $27,000. Benjamin Edwards Inc. raised its position in shares of Marathon Oil by 226.0% in the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 678 shares in the last quarter. Founders Capital Management raised its position in shares of Marathon Oil by 100.0% in the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 500 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in shares of Marathon Oil in the 2nd quarter worth $29,000. 77.24% of the stock is owned by 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.