Marathon Oil (NYSE:MRO) Price Target Lowered to $27.00 at Truist Financial

Marathon Oil (NYSE:MRO) had its price target decreased by stock analysts at Truist Financial from $35.00 to $27.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price would suggest a potential upside of 1.12% from the company’s current price.

MRO has been the subject of a number of other research reports. StockNews.com began coverage on Marathon Oil in a research report on Saturday. They set a “buy” rating for the company. Susquehanna cut their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Scotiabank lowered their price target on shares of Marathon Oil from $29.00 to $27.61 and set a “sector perform” rating for the company in a report on Monday, August 12th. Capital One Financial cut shares of Marathon Oil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 5th. Finally, Piper Sandler boosted 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. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.27.

Marathon Oil Stock Up 0.8 %

MRO stock traded up $0.22 during mid-day trading on Monday, reaching $26.70. The company had a trading volume of 819,836 shares, compared to its average volume of 8,420,051. Marathon Oil has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 10.96 and a beta of 2.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.57. The firm has a fifty day simple moving average of $27.46 and a 200 day simple moving average of $27.67.

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). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the business posted $0.48 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Analysts forecast that Marathon Oil will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Marathon Oil

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following 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 filing with the SEC, which is accessible through the SEC website. In related news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction 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 directly owns 100,000 shares in the company, valued at approximately $2,750,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the sale, the vice president now directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Oil

Hedge funds have recently added to or reduced their stakes in the stock. Heritage Wealth Management Inc. purchased a new position in Marathon Oil during the 2nd quarter worth $1,588,000. Sanctuary Advisors LLC purchased a new stake in Marathon Oil during the 2nd quarter worth approximately $1,413,000. Cetera Investment Advisers lifted its holdings in Marathon Oil by 15.7% in the second quarter. Cetera Investment Advisers now owns 144,674 shares of the oil and gas producer’s stock valued at $4,148,000 after acquiring an additional 19,592 shares during the last quarter. HWG Holdings LP purchased a new position in shares of 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. 77.24% of the stock is owned by institutional investors.

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.