Marathon Oil Co. Expected to Post FY2022 Earnings of $4.46 Per Share (NYSE:MRO)

Marathon Oil Co. (NYSE:MROGet Rating) – Analysts at Zacks Research lifted their FY2022 earnings estimates for shares of Marathon Oil in a research note issued on Wednesday, November 16th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas producer will post earnings per share of $4.46 for the year, up from their prior forecast of $4.32. The consensus estimate for Marathon Oil’s current full-year earnings is $4.58 per share. Zacks Research also issued estimates for Marathon Oil’s Q4 2022 earnings at $0.88 EPS, Q3 2023 earnings at $0.75 EPS, FY2023 earnings at $2.87 EPS, Q3 2024 earnings at $0.67 EPS and FY2024 earnings at $2.61 EPS.

Several other equities research analysts have also commented on MRO. Citigroup boosted their price target on Marathon Oil to $30.00 in a research note on Thursday, October 27th. Jefferies Financial Group initiated coverage on Marathon Oil in a report on Wednesday, October 19th. They issued a “hold” rating and a $30.00 target price on the stock. Royal Bank of Canada lifted their price target on Marathon Oil from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, November 7th. Mizuho lowered their price objective on shares of Marathon Oil from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. Finally, Barclays raised their target price on shares of Marathon Oil from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.44.

Marathon Oil Trading Down 1.6 %

Shares of MRO opened at $30.80 on Monday. Marathon Oil has a twelve month low of $14.29 and a twelve month high of $33.42. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $19.56 billion, a P/E ratio of 5.91, a PEG ratio of 0.56 and a beta of 2.47. The firm’s 50-day moving average is $28.10 and its two-hundred day moving average is $26.23.

Marathon Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, November 15th. This is an increase from Marathon Oil’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.17%. Marathon Oil’s dividend payout ratio is 6.91%.

Insiders Place Their Bets

In related news, CFO Dane E. Whitehead sold 28,553 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $22.61, for a total value of $645,583.33. Following the completion of the sale, the chief financial officer now directly owns 229,129 shares in the company, valued at $5,180,606.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Michael A. Henderson sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $32.56, for a total value of $2,604,800.00. Following the transaction, the vice president now directly owns 105,250 shares in the company, valued at approximately $3,426,940. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dane E. Whitehead sold 28,553 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $22.61, for a total value of $645,583.33. Following the sale, the chief financial officer now owns 229,129 shares of the company’s stock, valued at approximately $5,180,606.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 481,406 shares of company stock valued at $15,004,236. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Marathon Oil

A number of hedge funds have recently made changes to their positions in MRO. Washington Trust Advisors Inc. purchased a new position in Marathon Oil in the 1st quarter worth approximately $25,000. HWG Holdings LP purchased a new stake in Marathon Oil during the 3rd quarter worth $25,000. Ronald Blue Trust Inc. acquired a new position in Marathon Oil in the 2nd quarter worth $30,000. Zullo Investment Group Inc. purchased a new position in Marathon Oil in the 1st quarter valued at about $30,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Marathon Oil by 90.6% during the first quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 647 shares in the last quarter. Hedge funds and other institutional investors own 75.16% of the company’s stock.

About Marathon Oil

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Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

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Earnings History and Estimates for Marathon Oil (NYSE:MRO)

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