StockNews.com Initiates Coverage on Marathon Oil (NYSE:MRO)

Stock analysts at StockNews.com began coverage on shares of Marathon Oil (NYSE:MRO) in a note issued to investors on Saturday. The brokerage set a “buy” rating on the oil and gas producer’s stock.

A number of other research analysts have also weighed in on MRO. Susquehanna decreased their price objective on Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Piper Sandler raised their price objective on Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Capital One Financial lowered Marathon Oil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 5th. Mizuho reduced their price target on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Scotiabank reduced their price target on Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating on the stock in a report on Monday, August 12th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.74.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $26.49 on Friday. Marathon Oil has a twelve month low of $21.81 and a twelve month high of $30.06. The company’s 50 day moving average is $27.51 and its 200 day moving average is $27.63. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. The company has a market cap of $14.82 billion, a PE ratio of 10.95 and a beta of 2.16.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the business posted $0.48 EPS. Marathon Oil’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Oil will post 2.57 EPS for the current year.

Insider Activity

In other news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the transaction, the insider now owns 100,000 shares of the company’s stock, valued at $2,750,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the transaction, the insider now owns 100,000 shares of the company’s stock, valued at $2,750,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Heritage Wealth Management Inc. acquired a new position in Marathon Oil during the second quarter worth $1,588,000. Sanctuary Advisors LLC acquired a new position in Marathon Oil during the second quarter worth $1,413,000. Cetera Investment Advisers grew its holdings in Marathon Oil by 15.7% during the second quarter. Cetera Investment Advisers now owns 144,674 shares of the oil and gas producer’s stock worth $4,148,000 after acquiring an additional 19,592 shares during the period. HWG Holdings LP acquired a new position in Marathon Oil during the second quarter worth $26,000. Finally, EP Wealth Advisors LLC acquired a new stake in Marathon Oil in the second quarter valued at $229,000. Institutional investors and hedge funds 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.