Marathon Oil (NYSE:MRO) Upgraded by Morgan Stanley to “Overweight”

Morgan Stanley upgraded shares of Marathon Oil (NYSE:MROGet Rating) from an equal weight rating to an overweight rating in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has $28.00 price objective on the oil and gas producer’s stock, up from their prior price objective of $27.00.

MRO has been the subject of several other research reports. Barclays upped their price target on Marathon Oil from $34.00 to $35.00 and gave the stock an overweight rating in a research note on Wednesday, December 7th. Raymond James upped their price target on Marathon Oil from $37.00 to $48.00 and gave the stock a strong-buy rating in a research note on Monday, November 28th. Piper Sandler cut their price target on Marathon Oil from $42.00 to $40.00 and set an overweight rating for the company in a research note on Friday, January 13th. Credit Suisse Group upped their price target on Marathon Oil from $30.00 to $32.00 and gave the stock a neutral rating in a research note on Thursday, November 3rd. Finally, Evercore ISI started coverage on Marathon Oil in a research note on Thursday, January 5th. They set an outperform rating for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $33.44.

Marathon Oil Price Performance

MRO stock opened at $27.85 on Tuesday. The company has a market capitalization of $17.63 billion, a P/E ratio of 5.35, a PEG ratio of 0.30 and a beta of 2.43. Marathon Oil has a twelve month low of $17.84 and a twelve month high of $33.42. The business has a 50 day simple moving average of $28.01 and a 200-day simple moving average of $26.61. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32.

Marathon Oil (NYSE:MROGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The oil and gas producer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.07 billion. Marathon Oil had a return on equity of 27.76% and a net margin of 46.11%. As a group, equities analysts anticipate that Marathon Oil will post 4.48 EPS for the current year.

Insider Activity at Marathon Oil

In related news, CFO Dane E. Whitehead sold 172,230 shares of the stock in a transaction on Friday, November 4th. The stock was 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 owns 205,870 shares of the company’s stock, valued at $6,559,018.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Marathon Oil news, CEO Lee M. Tillman sold 30,000 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 $976,800.00. Following the sale, the chief executive officer now directly owns 916,219 shares of the company’s stock, valued at approximately $29,832,090.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Dane E. Whitehead sold 172,230 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 205,870 shares in the company, valued at $6,559,018.20. The disclosure for this sale can be found here. Insiders have sold a total of 419,601 shares of company stock valued at $13,493,768 over the last quarter. Insiders own 0.52% of the company’s stock.

Institutional Trading of Marathon Oil

A number of hedge funds have recently added to or reduced their stakes in MRO. TradeLink Capital LLC acquired a new stake in Marathon Oil in the 1st quarter worth about $781,000. D.A. Davidson & CO. acquired a new position in shares of Marathon Oil in the 1st quarter valued at about $209,000. Great West Life Assurance Co. Can lifted its stake in shares of Marathon Oil by 6.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 160,065 shares of the oil and gas producer’s stock valued at $4,192,000 after purchasing an additional 10,388 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Marathon Oil in the 1st quarter valued at about $206,000. Finally, Cibc World Market Inc. lifted its stake in shares of Marathon Oil by 7.4% in the 1st quarter. Cibc World Market Inc. now owns 187,679 shares of the oil and gas producer’s stock valued at $4,713,000 after purchasing an additional 12,859 shares in the last quarter. 77.30% of the stock is owned by institutional investors and hedge funds.

Marathon Oil Company Profile

(Get Rating)

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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