Analysts Set Marathon Oil Co. (NYSE:MRO) PT at $30.94

Marathon Oil Co. (NYSE:MRO) has received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $30.94.

MRO has been the subject of several research reports. Citigroup decreased their target price on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. lowered their price objective on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company reduced 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 research report on Tuesday, October 1st. Truist Financial lowered their price target on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, StockNews.com initiated coverage on shares of Marathon Oil in a report on Tuesday, December 17th. They issued a “buy” rating on the stock.

Marathon Oil Price Performance

Shares of NYSE MRO opened at $28.55 on Friday. The firm has a fifty day simple moving average of $27.99 and a two-hundred day simple moving average of $27.88. Marathon Oil has a 12 month low of $21.81 and a 12 month high of $30.06. The company has a current ratio of 0.69, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $15.97 billion, a PE ratio of 12.25 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Marathon Oil’s revenue was down 1.2% on a year-over-year basis. Equities analysts expect that Marathon Oil will post 2.34 earnings per share for the current year.

Marathon Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 1.54%. Marathon Oil’s dividend payout ratio (DPR) is presently 18.88%.

Insiders Place Their Bets

In related news, CEO Lee M. Tillman sold 256,591 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $29.07, for a total transaction of $7,459,100.37. Following the transaction, the chief executive officer now owns 596,330 shares in the company, valued at $17,335,313.10. This represents a 30.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick Wagner sold 36,094 shares of Marathon Oil stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $28.84, for a total transaction of $1,040,950.96. Following the completion of the sale, the insider now directly owns 104,735 shares of the company’s stock, valued at approximately $3,020,557.40. This trade represents a 25.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Marathon Oil

Several hedge funds and other institutional investors have recently modified their holdings of MRO. HWG Holdings LP purchased a new stake in Marathon Oil during the second quarter valued at $26,000. Highbridge Capital Management LLC bought a new stake in shares of Marathon Oil during the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Marathon Oil during the 3rd quarter valued at about $36,000. Kennebec Savings Bank bought a new position in shares of Marathon Oil in the 3rd quarter worth approximately $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Marathon Oil in the third quarter worth approximately $51,000. 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.