Marathon Oil (NYSE:MRO) Price Target Raised to $28.00

Marathon Oil (NYSE:MRO) had its price objective increased by Scotiabank from $27.61 to $28.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a sector perform rating on the oil and gas producer’s stock.

Several other brokerages also recently weighed in on MRO. Mizuho cut their price target on Marathon Oil from $34.00 to $32.00 and set a neutral rating on the stock in a report on Monday, September 16th. Barclays cut their price target on Marathon Oil from $35.00 to $34.00 and set an overweight rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company cut their target price on Marathon Oil from $29.00 to $27.00 and set an equal weight rating on the stock in a research report on Tuesday, October 1st. Piper Sandler increased their price target on shares of Marathon Oil from $34.00 to $37.00 and gave the company an overweight rating in a research note on Thursday, August 15th. Finally, StockNews.com initiated coverage on shares of Marathon Oil in a report on Sunday, October 6th. They issued a buy rating for the company. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $31.12.

Marathon Oil Stock Performance

Shares of Marathon Oil stock opened at $28.06 on Thursday. The business’s fifty day simple moving average is $27.55 and its 200-day simple moving average is $27.74. Marathon Oil has a 52 week low of $21.81 and a 52 week high of $30.06. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The firm has a market cap of $15.70 billion, a PE ratio of 10.92 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company posted $0.48 EPS. Marathon Oil’s revenue was up 12.8% on a year-over-year basis. Equities analysts forecast that Marathon Oil will post 2.53 earnings per share for the current year.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Oil’s dividend payout ratio is currently 17.12%.

Insider Buying and Selling at Marathon Oil

In other news, VP Michael A. Henderson sold 38,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the sale, the vice president now owns 76,828 shares of the company’s stock, valued at $2,090,489.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the sale, the insider now owns 100,000 shares of the company’s stock, valued at $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the sale, the vice president now owns 76,828 shares in the company, valued at $2,090,489.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Oil

A number of large investors have recently bought and sold shares of MRO. HWG Holdings LP purchased a new position in Marathon Oil in the 2nd quarter valued at about $26,000. Riverview Trust Co purchased a new position in shares of Marathon Oil during the 1st quarter worth $27,000. Benjamin Edwards Inc. boosted its stake in Marathon Oil by 226.0% in the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 678 shares during the last quarter. Founders Capital Management grew its holdings in Marathon Oil by 100.0% in the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 500 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in shares of Marathon Oil during the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

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.