Zacks Research Decreases Earnings Estimates for Marathon Oil

Marathon Oil Co. (NYSE:MRO) – Zacks Research decreased their Q3 2024 earnings estimates for shares of Marathon Oil in a research report issued to clients and investors on Tuesday, October 29th. Zacks Research analyst N. Choudhury now expects that the oil and gas producer will earn $0.62 per share for the quarter, down from their prior forecast of $0.70. The consensus estimate for Marathon Oil’s current full-year earnings is $2.43 per share. Zacks Research also issued estimates for Marathon Oil’s Q4 2024 earnings at $0.57 EPS, FY2024 earnings at $2.37 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.58 EPS, FY2025 earnings at $2.34 EPS, Q1 2026 earnings at $0.41 EPS, Q2 2026 earnings at $0.45 EPS, Q3 2026 earnings at $0.47 EPS and FY2026 earnings at $1.79 EPS.

Several other equities analysts have also recently issued reports on MRO. StockNews.com assumed coverage on Marathon Oil in a research note on Wednesday. They set a “buy” rating on the stock. Susquehanna reduced their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Piper Sandler boosted their price objective on shares of Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Wells Fargo & Company cut their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered their target price on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.12.

Marathon Oil Trading Up 6.2 %

NYSE:MRO opened at $27.70 on Thursday. The company has a market cap of $15.49 billion, a PE ratio of 10.78 and a beta of 2.16. The business’s 50 day moving average is $27.30 and its two-hundred day moving average is $27.52. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. Marathon Oil has a 52 week low of $21.81 and a 52 week high of $30.06.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 EPS.

Institutional Investors Weigh In On Marathon Oil

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Marathon Oil by 9.9% during the first quarter. Vanguard Group Inc. now owns 75,751,369 shares of the oil and gas producer’s stock valued at $2,146,794,000 after purchasing an additional 6,835,604 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Marathon Oil by 13.1% during the second quarter. Pacer Advisors Inc. now owns 13,369,821 shares of the oil and gas producer’s stock valued at $383,313,000 after buying an additional 1,552,210 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Marathon Oil by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,461,323 shares of the oil and gas producer’s stock worth $242,582,000 after buying an additional 328,184 shares during the period. LSV Asset Management boosted its holdings in shares of Marathon Oil by 10.1% in the second quarter. LSV Asset Management now owns 6,443,713 shares of the oil and gas producer’s stock worth $184,741,000 after buying an additional 593,100 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Marathon Oil by 1.0% in the second quarter. Victory Capital Management Inc. now owns 2,786,956 shares of the oil and gas producer’s stock worth $79,902,000 after acquiring an additional 27,495 shares in the last quarter. 77.24% of the stock is owned by institutional investors.

Insider Transactions at Marathon Oil

In other Marathon Oil 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 transaction of $1,430,220.00. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the sale, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction that occurred 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 $2,090,489.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Marathon Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.59%. Marathon Oil’s dividend payout ratio (DPR) is 17.12%.

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.