Zacks Research Analysts Raise Earnings Estimates for Marathon Oil Co. (NYSE:MRO)

Marathon Oil Co. (NYSE:MROFree Report) – Equities research analysts at Zacks Research increased their Q2 2024 earnings per share estimates for shares of Marathon Oil in a report issued on Monday, June 10th. Zacks Research analyst N. Choudhury now expects that the oil and gas producer will earn $0.65 per share for the quarter, up from their previous estimate of $0.63. The consensus estimate for Marathon Oil’s current full-year earnings is $2.83 per share. Zacks Research also issued estimates for Marathon Oil’s Q3 2024 earnings at $0.73 EPS, FY2024 earnings at $2.70 EPS, Q1 2025 earnings at $0.78 EPS, Q2 2025 earnings at $0.60 EPS, Q4 2025 earnings at $0.77 EPS, FY2025 earnings at $3.05 EPS and FY2026 earnings at $2.60 EPS.

Marathon Oil (NYSE:MROGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share.

Several other equities analysts have also recently weighed in on the company. Argus upgraded Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday, March 14th. Truist Financial decreased their price target on Marathon Oil from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. UBS Group lowered their price target on shares of Marathon Oil from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. The Goldman Sachs Group boosted their price objective on shares of Marathon Oil from $26.50 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Finally, Mizuho increased their target price on shares of Marathon Oil from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.86.

Check Out Our Latest Analysis on MRO

Marathon Oil Stock Up 1.5 %

Marathon Oil stock opened at $28.28 on Tuesday. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 11.69 and a beta of 2.18. The firm has a 50 day simple moving average of $27.57 and a 200 day simple moving average of $25.48. Marathon Oil has a 1-year low of $21.81 and a 1-year high of $30.06. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, May 14th. Marathon Oil’s dividend payout ratio is currently 18.18%.

Insider Buying and Selling at Marathon Oil

In other 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 value of $2,172,630.18. Following the completion of the sale, the chief executive officer now directly owns 596,330 shares in the company, valued at approximately $16,065,130.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Lee M. Tillman sold 80,647 shares of Marathon Oil stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $2,172,630.18. Following the transaction, the chief executive officer now owns 596,330 shares in the company, valued at approximately $16,065,130.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick Wagner sold 36,094 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total transaction of $997,999.10. Following the sale, the insider now owns 140,829 shares of the company’s stock, valued at $3,893,921.85. The disclosure for this sale can be found here. Insiders have sold 281,332 shares of company stock worth $7,644,903 over the last ninety days. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Marathon Oil

A number of hedge funds have recently modified their holdings of the company. Riverview Trust Co bought a new position in Marathon Oil during the 1st quarter valued at approximately $27,000. Benjamin Edwards Inc. lifted its stake in Marathon Oil by 226.0% in the first quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 678 shares during the period. Fortis Group Advisors LLC boosted its holdings in Marathon Oil by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 618 shares in the last quarter. Manchester Capital Management LLC purchased a new position in Marathon Oil during the 4th quarter valued at $31,000. Finally, Scarborough Advisors LLC purchased a new position in Marathon Oil during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Marathon Oil Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for Marathon Oil (NYSE:MRO)

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