Capital One Financial Analysts Reduce Earnings Estimates for Marathon Oil Co. (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO – Get Rating) – Research analysts at Capital One Financial decreased their Q1 2024 earnings per share estimates for Marathon Oil in a note issued to investors on Sunday, May 21st. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will earn $0.71 per share for the quarter, down from their previous estimate of $0.87. The consensus estimate for Marathon Oil’s current full-year earnings is $2.88 per share. Capital One Financial also issued estimates for Marathon Oil’s Q2 2024 earnings at $0.74 EPS, Q3 2024 earnings at $0.78 EPS and Q4 2024 earnings at $0.81 EPS.

Marathon Oil (NYSE:MRO – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Marathon Oil had a return on equity of 24.17% and a net margin of 34.22%. Marathon Oil’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 earnings per share.

MRO has been the topic of several other research reports. Morgan Stanley lowered their target price on Marathon Oil from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, March 27th. The Goldman Sachs Group upped their target price on Marathon Oil from $24.00 to $28.00 and gave the company a “sell” rating in a report on Friday, April 21st. Stifel Nicolaus upped their target price on Marathon Oil from $37.00 to $38.00 in a report on Tuesday. UBS Group began coverage on Marathon Oil in a report on Wednesday, April 19th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, StockNews.com began coverage on Marathon Oil in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marathon Oil currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.06.

Marathon Oil Trading Up 0.9 %

NYSE:MRO opened at $23.64 on Tuesday. The stock has a fifty day moving average price of $23.61 and a two-hundred day moving average price of $26.21. The stock has a market capitalization of $14.60 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 0.41 and a beta of 2.39. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.68 and a current ratio of 0.75. Marathon Oil has a 1 year low of $19.42 and a 1 year high of $33.42.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. HWG Holdings LP acquired a new position in Marathon Oil during the 3rd quarter valued at approximately $25,000. ICA Group Wealth Management LLC boosted its position in Marathon Oil by 92.6% during the 1st quarter. ICA Group Wealth Management LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 522 shares during the period. Manchester Capital Management LLC acquired a new position in Marathon Oil during the 1st quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Marathon Oil during the 4th quarter valued at approximately $29,000. Finally, KB Financial Partners LLC acquired a new position in Marathon Oil during the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 77.30% of the company’s stock.

Insider Activity at Marathon Oil

In related news, CAO Rob L. White sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $22.85, for a total transaction of $114,250.00. Following the sale, the chief accounting officer now directly owns 39,344 shares in the company, valued at approximately $899,010.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Wednesday, May 17th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.69%. Marathon Oil’s payout ratio is currently 9.83%.

Marathon Oil Company Profile

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Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S.