Marathon Oil Co. (MRO) to Distribute Quarterly Dividend of $0.11 on June 10th

Marathon Oil Co. (NYSE:MRO) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.11 per share by the oil and gas producer on Monday, June 10th. This represents a $0.44 annualized dividend and a yield of 1.59%.

Marathon Oil has raised its dividend payment by an average of 72.4% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Marathon Oil has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Marathon Oil to earn $3.25 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 13.5%.

Marathon Oil Stock Performance

MRO opened at $27.74 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 0.30. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 10.84 and a beta of 2.22. Marathon Oil has a 52-week low of $21.63 and a 52-week high of $30.06. The firm’s fifty day simple moving average is $26.63 and its two-hundred day simple moving average is $25.43.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. Equities analysts anticipate that Marathon Oil will post 2.84 earnings per share for the current fiscal year.

Insider Activity at Marathon Oil

In other Marathon Oil news, CEO Lee M. Tillman sold 80,647 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total transaction of $2,172,630.18. Following the completion of the transaction, the chief executive officer now owns 596,330 shares in the company, valued at approximately $16,065,130.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Marathon Oil news, CFO Dane E. Whitehead sold 73,233 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $27.06, for a total transaction of $1,981,684.98. Following the completion of the transaction, the chief financial officer now owns 152,008 shares in the company, valued at approximately $4,113,336.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lee M. Tillman sold 80,647 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $26.94, for a total transaction of $2,172,630.18. Following the transaction, the chief executive officer now owns 596,330 shares of the company’s stock, valued at approximately $16,065,130.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 281,332 shares of company stock worth $7,644,903. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

MRO has been the topic of several research reports. Argus raised shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, March 14th. The Goldman Sachs Group lifted their target price on shares of Marathon Oil from $26.50 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Piper Sandler lifted their target price on shares of Marathon Oil from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $33.00 target price on shares of Marathon Oil in a research note on Tuesday, March 5th. Finally, Truist Financial lifted their target price on shares of Marathon Oil from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.66.

Marathon Oil Company Profile

Marathon Oil Corporation, an independent exploration and production company, engages in exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas in the United States and internationally. The company also produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol.