Piper Sandler Raises Marathon Oil (NYSE:MRO) Price Target to $42.00

Marathon Oil (NYSE:MROGet Rating) had its target price raised by Piper Sandler from $38.00 to $42.00 in a report issued on Thursday morning, The Fly reports. Piper Sandler currently has an overweight rating on the oil and gas producer’s stock.

A number of other research firms also recently issued reports on MRO. Citigroup raised their price objective on shares of Marathon Oil to $30.00 in a report on Thursday, October 27th. Barclays raised their price objective on shares of Marathon Oil from $31.00 to $34.00 and gave the stock an overweight rating in a report on Wednesday, October 19th. Jefferies Financial Group assumed coverage on shares of Marathon Oil in a report on Wednesday, October 19th. They issued a hold rating and a $30.00 price objective on the stock. Raymond James raised their target price on shares of Marathon Oil from $35.00 to $37.00 and gave the stock a strong-buy rating in a research note on Monday, October 24th. Finally, Morgan Stanley decreased their target price on shares of Marathon Oil from $28.00 to $27.00 and set an equal weight rating on the stock in a research note on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $32.44.

Marathon Oil Stock Performance

MRO opened at $30.80 on Thursday. 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 company has a market cap of $19.56 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 0.56 and a beta of 2.47. The company’s 50 day moving average is $28.10 and its 200 day moving average is $26.23. Marathon Oil has a 12-month low of $14.29 and a 12-month high of $33.42.

Marathon Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Wednesday, November 16th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.17%. This is a positive change from Marathon Oil’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, November 15th. Marathon Oil’s payout ratio is presently 6.91%.

Insiders Place Their Bets

In other Marathon Oil news, VP Michael A. Henderson sold 80,000 shares of Marathon Oil stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $32.56, for a total transaction of $2,604,800.00. Following the completion of the transaction, the vice president now directly owns 105,250 shares of the company’s stock, valued at $3,426,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Marathon Oil news, VP Michael A. Henderson sold 80,000 shares of Marathon Oil stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $32.56, for a total transaction of $2,604,800.00. Following the completion of the transaction, the vice president now directly owns 105,250 shares of the company’s stock, valued at $3,426,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dane E. Whitehead sold 28,553 shares of the business’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $22.61, for a total transaction of $645,583.33. Following the sale, the chief financial officer now directly owns 229,129 shares of the company’s stock, valued at $5,180,606.69. The disclosure for this sale can be found here. Insiders sold 481,406 shares of company stock valued at $15,004,236 over the last three months. 0.52% of the stock is owned by company insiders.

Institutional Trading of Marathon Oil

A number of large investors have recently made changes to their positions in the stock. Washington Trust Advisors Inc. bought a new stake in shares of Marathon Oil in the first quarter valued at about $25,000. HWG Holdings LP bought a new stake in shares of Marathon Oil in the third quarter valued at about $25,000. Zullo Investment Group Inc. bought a new stake in shares of Marathon Oil in the first quarter valued at about $30,000. Ronald Blue Trust Inc. bought a new stake in shares of Marathon Oil in the second quarter valued at about $30,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Marathon Oil by 39.9% in the third quarter. Jones Financial Companies Lllp now owns 1,379 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 393 shares in the last quarter. 75.16% of the stock is owned by hedge funds and other institutional investors.

Marathon Oil Company Profile

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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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