Marathon Oil (NYSE:MRO) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Marathon Oil (NYSE:MRO) in a research note released on Wednesday. The firm issued a buy rating on the oil and gas producer’s stock.

Several other equities analysts have also recently issued reports on the company. Susquehanna boosted their target price on Marathon Oil from $33.00 to $39.00 and gave the company a positive rating in a research note on Monday, July 22nd. Mizuho upped their price objective on shares of Marathon Oil from $33.00 to $34.00 and gave the stock a neutral rating in a report on Wednesday, June 5th. Scotiabank cut their target price 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. Piper Sandler increased their price target on shares of Marathon Oil from $34.00 to $37.00 and gave the stock an overweight rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company restated 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. 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. Based on data from MarketBeat.com, Marathon Oil presently has a consensus rating of Moderate Buy and an average price target of $32.03.

Marathon Oil Stock Performance

NYSE:MRO opened at $26.72 on Wednesday. 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 has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The firm has a market cap of $14.95 billion, a PE ratio of 11.04 and a beta of 2.16. The business has a 50 day moving average price of $27.99 and a 200-day moving average price of $27.36.

Marathon Oil (NYSE:MRO) last announced 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). The firm had revenue of $1.71 billion during 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%. Marathon Oil’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS. Equities research analysts predict that Marathon Oil will post 2.76 earnings per share for the current year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a $0.11 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $0.44 annualized dividend and a yield of 1.65%. Marathon Oil’s dividend payout ratio (DPR) is presently 18.18%.

Institutional Investors Weigh In On Marathon Oil

Institutional investors have recently made changes to their positions in the company. HWG Holdings LP purchased a new stake in Marathon Oil during the 2nd quarter valued at $26,000. Riverview Trust Co bought a new position in Marathon Oil during the 1st quarter valued at about $27,000. Benjamin Edwards Inc. boosted its holdings in shares of Marathon Oil by 226.0% during the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 678 shares during the last quarter. Founders Capital Management grew its stake in shares of Marathon Oil by 100.0% in the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 500 shares during the period. Finally, Highbridge Capital Management LLC purchased a new position in shares of Marathon Oil during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors 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.