Zacks Research Weighs in on Marathon Oil FY2024 Earnings

Marathon Oil Co. (NYSE:MRO) – Research analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for Marathon Oil in a research report issued on Tuesday, November 19th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas producer will post earnings per share of $2.32 for the year, down from their previous forecast of $2.37. The consensus estimate for Marathon Oil’s current full-year earnings is $2.34 per share. Zacks Research also issued estimates for Marathon Oil’s Q4 2024 earnings at $0.50 EPS, Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.50 EPS, FY2025 earnings at $2.09 EPS, Q1 2026 earnings at $0.38 EPS, Q2 2026 earnings at $0.42 EPS and FY2026 earnings at $1.73 EPS.

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

Other equities analysts have also recently issued research reports about the stock. Citigroup reduced their price target on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. StockNews.com initiated coverage on Marathon Oil in a research report on Friday, November 15th. They issued a “buy” rating for the company. Scotiabank lifted their price target on Marathon Oil from $27.61 to $28.00 and gave the company a “sector perform” rating in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.94.

Marathon Oil Stock Up 0.6 %

Shares of Marathon Oil stock opened at $28.92 on Thursday. The company’s fifty day simple moving average is $27.46 and its two-hundred day simple moving average is $27.61. 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 company has a market cap of $16.18 billion, a P/E ratio of 12.41 and a beta of 2.16.

Marathon Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, November 15th. Marathon Oil’s payout ratio is currently 18.88%.

Insider Activity at Marathon Oil

In other news, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction 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 transaction, the vice president now directly owns 76,828 shares of the company’s stock, valued at $2,090,489.88. This represents a 33.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lee M. Tillman sold 256,591 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $29.07, for a total value of $7,459,100.37. Following the completion of the transaction, the chief executive officer now owns 596,330 shares in the company, valued at approximately $17,335,313.10. This trade represents a 30.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 382,693 shares of company stock valued at $10,964,251 over the last ninety days. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Marathon Oil during the 2nd quarter valued at about $64,061,000. Magnetar Financial LLC purchased a new stake in Marathon Oil during the second quarter valued at approximately $63,556,000. Pacer Advisors Inc. raised its position in Marathon Oil by 13.1% in the second quarter. Pacer Advisors Inc. now owns 13,369,821 shares of the oil and gas producer’s stock worth $383,313,000 after acquiring an additional 1,552,210 shares during the period. Slotnik Capital LLC purchased a new position in shares of Marathon Oil during the 2nd quarter worth $40,779,000. Finally, Water Island Capital LLC bought a new stake in shares of Marathon Oil during the 2nd quarter valued at $33,273,000. 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.