Truist Financial Trims Marathon Oil (NYSE:MRO) Target Price to $35.00

Marathon Oil (NYSE:MRO) had its target price cut by Truist Financial from $36.00 to $35.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Several other research analysts have also issued reports on the company. UBS Group reduced their target price on Marathon Oil from $28.00 to $27.00 and set a neutral rating on the stock in a research report on Wednesday, March 6th. Benchmark reiterated a buy rating and set a $32.00 price target on shares of Marathon Oil in a research note on Friday, May 3rd. Scotiabank boosted their price target on Marathon Oil from $35.00 to $45.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. Piper Sandler boosted their price target on Marathon Oil from $32.00 to $34.00 and gave the company an overweight rating in a research note on Friday, April 19th. Finally, StockNews.com upgraded Marathon Oil from a hold rating to a buy rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $32.61.

Marathon Oil Trading Down 0.3 %

MRO opened at $26.98 on Monday. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 11.15 and a beta of 2.22. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 0.41. Marathon Oil has a 12 month low of $21.81 and a 12 month high of $30.06. The stock has a fifty day moving average price of $27.19 and a 200-day moving average price of $25.36.

Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company posted $0.67 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Oil will post 2.84 earnings per share for the current fiscal year.

Marathon Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.63%. Marathon Oil’s dividend payout ratio is currently 18.18%.

Insiders Place Their Bets

In other Marathon Oil news, CEO Lee M. Tillman sold 80,647 shares of the 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 in the company, valued at $16,065,130.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marathon Oil news, CEO Lee M. Tillman sold 80,647 shares of the 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 completion of the transaction, the chief executive officer now owns 596,330 shares of the company’s stock, valued at $16,065,130.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick Wagner sold 36,094 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total value of $997,999.10. Following the transaction, the insider now directly owns 140,829 shares of the company’s stock, valued at approximately $3,893,921.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 281,332 shares of company stock worth $7,644,903. 0.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marathon Oil

A number of hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in shares of Marathon Oil by 4.8% during the first quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer’s stock valued at $257,000 after acquiring an additional 415 shares during the last quarter. Wahed Invest LLC increased its holdings in shares of Marathon Oil by 4.2% in the fourth quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer’s stock valued at $249,000 after purchasing an additional 419 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Marathon Oil by 1.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,569 shares of the oil and gas producer’s stock valued at $711,000 after purchasing an additional 421 shares during the last quarter. Trueblood Wealth Management LLC increased its holdings in shares of Marathon Oil by 4.8% in the first quarter. Trueblood Wealth Management LLC now owns 9,559 shares of the oil and gas producer’s stock valued at $271,000 after purchasing an additional 439 shares during the last quarter. Finally, Argent Capital Management LLC increased its holdings in shares of Marathon Oil by 0.5% in the first quarter. Argent Capital Management LLC now owns 87,563 shares of the oil and gas producer’s stock valued at $2,482,000 after purchasing an additional 441 shares during the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.

About Marathon Oil

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.