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

Marathon Oil Co. (NYSE:MROFree Report) – Capital One Financial cut their Q2 2024 earnings per share (EPS) estimates for Marathon Oil in a research note issued to investors on Friday, May 24th. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings of $0.68 per share for the quarter, down from their previous estimate of $0.69. The consensus estimate for Marathon Oil’s current full-year earnings is $2.89 per share. Capital One Financial also issued estimates for Marathon Oil’s Q3 2024 earnings at $0.73 EPS, Q4 2024 earnings at $0.76 EPS, FY2024 earnings at $2.72 EPS and FY2025 earnings at $2.86 EPS.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price target on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. The Goldman Sachs Group raised 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. Barclays started coverage on shares of Marathon Oil in a research report on Wednesday, April 10th. They set an “overweight” rating and a $35.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $32.00 price target on shares of Marathon Oil in a research report on Friday, May 3rd. Finally, Scotiabank lifted 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. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.14.

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Marathon Oil Trading Down 0.8 %

Shares of Marathon Oil stock opened at $25.56 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.48 and a current ratio of 0.55. Marathon Oil has a 52 week low of $21.81 and a 52 week high of $30.06. The stock has a 50 day moving average price of $27.48 and a two-hundred day moving average price of $25.28. The stock has a market capitalization of $14.42 billion, a PE ratio of 10.56 and a beta of 2.22.

Marathon Oil (NYSE:MROGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue was down 7.7% on a year-over-year basis.

Institutional Investors Weigh In On Marathon Oil

Several large investors have recently added to or reduced their stakes in MRO. Park Avenue Securities LLC boosted its position in 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 worth $257,000 after purchasing an additional 415 shares during the period. Wahed Invest LLC boosted its holdings in Marathon Oil by 4.2% in the 4th quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer’s stock worth $249,000 after buying an additional 419 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Marathon Oil by 1.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,569 shares of the oil and gas producer’s stock valued at $711,000 after buying an additional 421 shares in the last quarter. Trueblood Wealth Management LLC raised its holdings in Marathon Oil by 4.8% during the 1st quarter. Trueblood Wealth Management LLC now owns 9,559 shares of the oil and gas producer’s stock valued at $271,000 after acquiring an additional 439 shares during the period. Finally, Argent Capital Management LLC lifted its position in shares of Marathon Oil by 0.5% during the first quarter. Argent Capital Management LLC now owns 87,563 shares of the oil and gas producer’s stock worth $2,482,000 after acquiring an additional 441 shares in the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Insider Activity

In related news, insider Patrick Wagner sold 39,969 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $26.89, for a total transaction of $1,074,766.41. Following the completion of the transaction, the insider now owns 176,923 shares in the company, valued at $4,757,459.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Marathon Oil news, CFO Dane E. Whitehead sold 73,233 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $27.06, for a total value of $1,981,684.98. Following the completion of the sale, the chief financial officer now directly owns 152,008 shares of the company’s stock, valued at $4,113,336.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick Wagner sold 39,969 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $26.89, for a total value of $1,074,766.41. Following the transaction, the insider now directly owns 176,923 shares in the company, valued at approximately $4,757,459.47. The disclosure for this sale can be found here. Insiders sold a total of 281,332 shares of company stock valued at $7,644,903 in the last ninety days. 0.35% of the stock is currently owned by insiders.

Marathon Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, May 14th. Marathon Oil’s dividend payout ratio is presently 18.18%.

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.

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

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