Q1 2023 Earnings Forecast for Marathon Oil Co. (NYSE:MRO) Issued By Capital One Financial

Marathon Oil Co. (NYSE:MRO – Get Rating) – Investment analysts at Capital One Financial cut their Q1 2023 EPS estimates for Marathon Oil in a report issued on Thursday, January 5th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will earn $0.74 per share for the quarter, down from their previous estimate of $0.92. The consensus estimate for Marathon Oil’s current full-year earnings is $4.56 per share.

Marathon Oil (NYSE:MRO – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The oil and gas producer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Marathon Oil had a net margin of 46.11% and a return on equity of 27.76%.

Several other research analysts have also issued reports on the stock. Barclays upped their target price on shares of Marathon Oil from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 7th. Credit Suisse Group upped their target price on shares of Marathon Oil from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 3rd. StockNews.com lowered shares of Marathon Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Citigroup upped their target price on shares of Marathon Oil to $30.00 in a research report on Thursday, October 27th. Finally, Raymond James upped their price target on shares of Marathon Oil from $37.00 to $48.00 and gave the company a “strong-buy” rating in a research report on Monday, November 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Marathon Oil Trading Up 2.8 %

Marathon Oil stock opened at $26.60 on Monday. Marathon Oil has a fifty-two week low of $17.01 and a fifty-two week high of $33.42. The firm’s fifty day moving average price is $29.08 and its 200-day moving average price is $26.18. The stock has a market cap of $16.89 billion, a P/E ratio of 5.11, a PEG ratio of 0.53 and a beta of 2.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.08.

Institutional Trading of Marathon Oil

Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its position in shares of Marathon Oil by 0.8% during the 1st quarter. State Street Corp now owns 48,341,531 shares of the oil and gas producer’s stock valued at $1,213,856,000 after purchasing an additional 392,821 shares during the period. Northern Trust Corp increased its holdings in Marathon Oil by 15.4% in the 2nd quarter. Northern Trust Corp now owns 9,050,291 shares of the oil and gas producer’s stock valued at $203,450,000 after acquiring an additional 1,209,296 shares during the last quarter. Wellington Management Group LLP increased its holdings in Marathon Oil by 1,220.4% in the 1st quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock valued at $219,828,000 after acquiring an additional 8,091,570 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Marathon Oil by 60.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,739,802 shares of the oil and gas producer’s stock valued at $194,346,000 after acquiring an additional 2,904,140 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Marathon Oil by 35.3% in the 1st quarter. First Trust Advisors LP now owns 7,026,775 shares of the oil and gas producer’s stock valued at $176,442,000 after acquiring an additional 1,835,182 shares during the last quarter. 77.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Dane E. Whitehead sold 172,230 shares of Marathon Oil stock in a transaction on Friday, November 4th. The shares were sold at an average price of $31.86, for a total transaction of $5,487,247.80. Following the transaction, the chief financial officer now owns 205,870 shares in the company, valued at approximately $6,559,018.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Dane E. Whitehead sold 172,230 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $31.86, for a total transaction of $5,487,247.80. Following the sale, the chief financial officer now directly owns 205,870 shares in the company, valued at approximately $6,559,018.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick Wagner sold 135,371 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $32.21, for a total transaction of $4,360,299.91. Following the sale, the insider now owns 134,714 shares in the company, valued at $4,339,137.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 419,601 shares of company stock worth $13,493,768. 0.52% of the stock is owned by insiders.

Marathon Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 12th. Investors of record on Wednesday, November 16th were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $0.36 annualized dividend and a yield of 1.35%. This is a boost from Marathon Oil’s previous quarterly dividend of $0.08. Marathon Oil’s dividend payout ratio (DPR) is currently 6.91%.

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.