Marathon Oil (MRO) to Release Earnings on Tuesday

Marathon Oil (NYSE:MROGet Free Report) is scheduled to post its quarterly earnings results on Tuesday, February 13th.

Marathon Oil Stock Down 1.1 %

Shares of NYSE:MRO opened at $22.45 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 0.43. Marathon Oil has a 52-week low of $20.57 and a 52-week high of $29.56. The stock’s fifty day simple moving average is $23.58 and its 200-day simple moving average is $25.39. The company has a market capitalization of $13.14 billion, a P/E ratio of 8.31 and a beta of 2.22.

Marathon Oil announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 1st that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 14.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.96%. Marathon Oil’s dividend payout ratio is currently 16.30%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Marathon Oil from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, November 20th. Piper Sandler dropped their target price on Marathon Oil from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Citigroup upped their target price on Marathon Oil from $31.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Benchmark dropped their price target on Marathon Oil from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, January 12th. Finally, Raymond James dropped their price target on Marathon Oil from $35.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.16.

Check Out Our Latest Stock Analysis on MRO

Hedge Funds Weigh In On Marathon Oil

A number of hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Marathon Oil by 0.8% in 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 acquiring an additional 392,821 shares during the last quarter. Wellington Management Group LLP boosted its position in Marathon Oil by 1,220.4% during the first 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 purchasing an additional 8,091,570 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Marathon Oil by 60.1% during the first 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 purchasing an additional 2,904,140 shares during the last quarter. First Trust Advisors LP boosted its position in Marathon Oil by 35.3% during the first 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 purchasing an additional 1,835,182 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Marathon Oil by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,244,950 shares of the oil and gas producer’s stock valued at $156,812,000 after purchasing an additional 93,786 shares during the last quarter. 76.62% of the stock is currently owned by institutional investors and hedge funds.

Marathon Oil Company Profile

(Get Free Report)

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 for Marathon Oil (NYSE:MRO)

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