JPMorgan Chase & Co. Lowers Marathon Oil (NYSE:MRO) Price Target to $30.00

Marathon Oil (NYSE:MRO) had its target price dropped by research analysts at JPMorgan Chase & Co. from $33.00 to $30.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 14.81% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank dropped their price target on shares of Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Citigroup dropped their target price on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Piper Sandler upped their price target on shares of Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $29.00 price objective (down from $38.00) on shares of Marathon Oil in a report on Friday, May 31st. Finally, Mizuho increased their target price on Marathon Oil from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. Nine 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.87.

Marathon Oil Stock Up 0.6 %

MRO opened at $26.13 on Thursday. The company has a fifty day moving average of $27.75 and a two-hundred day moving average of $27.45. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 10.80 and a beta of 2.16. Marathon Oil has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.57.

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 analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts expect that Marathon Oil will post 2.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the transaction, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.35% of the stock is owned by insiders.

Institutional Trading of Marathon Oil

Several institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its position in Marathon Oil by 19.7% in 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 acquiring an additional 6,193 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in Marathon Oil by 53.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 17,497 shares of the oil and gas producer’s stock worth $423,000 after buying an additional 6,066 shares during the period. Principal Securities Inc. acquired a new stake in Marathon Oil during the 4th quarter worth approximately $53,000. Dimensional Fund Advisors LP grew its stake in shares of Marathon Oil by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,186,365 shares of the oil and gas producer’s stock worth $197,801,000 after acquiring an additional 556,566 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Marathon Oil by 8.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,129 shares of the oil and gas producer’s stock worth $317,000 after acquiring an additional 1,052 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.

About Marathon Oil

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.