Marathon Oil Co. Expected to Post FY2023 Earnings of $3.61 Per Share (NYSE:MRO)

Marathon Oil Co. (NYSE:MROGet Rating) – Analysts at Jefferies Financial Group reduced their FY2023 earnings estimates for shares of Marathon Oil in a research report issued to clients and investors on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now anticipates that the oil and gas producer will post earnings of $3.61 per share for the year, down from their previous estimate of $4.08. Jefferies Financial Group has a “Hold” rating and a $30.00 price target on the stock. The consensus estimate for Marathon Oil’s current full-year earnings is $4.51 per share.

Marathon Oil (NYSE:MROGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The oil and gas producer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.07 billion. Marathon Oil had a net margin of 46.11% and a return on equity of 27.76%.

A number of other analysts have also issued reports on MRO. Piper Sandler cut their price target on shares of Marathon Oil from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, January 13th. Morgan Stanley lowered their price objective on Marathon Oil from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 19th. Barclays upped their price target on Marathon Oil from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, December 7th. The Goldman Sachs Group upped their price target on Marathon Oil from $27.00 to $30.00 and gave the company a “sell” rating in a report on Wednesday, November 23rd. Finally, Credit Suisse Group increased their price objective on Marathon Oil from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.38.

Marathon Oil Stock Up 1.8 %

Shares of NYSE:MRO opened at $27.88 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.08 and a quick ratio of 1.04. The firm has a market capitalization of $17.65 billion, a PE ratio of 5.35, a price-to-earnings-growth ratio of 0.28 and a beta of 2.43. The firm’s 50-day moving average is $28.20 and its two-hundred day moving average is $26.44. Marathon Oil has a 1 year low of $17.01 and a 1 year high of $33.42.

Hedge Funds Weigh In On Marathon Oil

Several large investors have recently made changes to their positions in the business. State Street Corp lifted 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 worth $1,213,856,000 after purchasing an additional 392,821 shares during the last quarter. Northern Trust Corp grew its position in Marathon Oil by 15.4% during the 2nd quarter. Northern Trust Corp now owns 9,050,291 shares of the oil and gas producer’s stock worth $203,450,000 after acquiring an additional 1,209,296 shares during the last quarter. Wellington Management Group LLP grew its position in Marathon Oil by 1,220.4% during the 1st quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock worth $219,828,000 after acquiring an additional 8,091,570 shares during the last quarter. Goldman Sachs Group Inc. boosted its position 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 buying an additional 2,904,140 shares during the last quarter. Finally, First Trust Advisors LP boosted its position 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 buying an additional 1,835,182 shares during the last quarter. Institutional investors and hedge funds own 77.30% of the company’s stock.

Insider Transactions at Marathon Oil

In other news, CAO Rob L. White sold 2,000 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $32.31, for a total transaction of $64,620.00. Following the completion of the sale, the chief accounting officer now owns 41,377 shares in the company, valued at approximately $1,336,890.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Rob L. White sold 2,000 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $32.31, for a total transaction of $64,620.00. Following the completion of the transaction, the chief accounting officer now owns 41,377 shares of the company’s stock, valued at approximately $1,336,890.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dane E. Whitehead sold 172,230 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $31.86, for a total value of $5,487,247.80. Following the transaction, the chief financial officer now directly owns 205,870 shares of the company’s stock, valued at approximately $6,559,018.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 419,601 shares of company stock worth $13,493,768. 0.52% of the stock is owned by corporate insiders.

Marathon Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Wednesday, November 16th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Tuesday, November 15th. This is an increase from Marathon Oil’s previous quarterly dividend of $0.08. Marathon Oil’s dividend payout ratio is 6.91%.

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

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