Brokers Set Expectations for Marathon Oil FY2024 Earnings

Marathon Oil Co. (NYSE:MRO) – Equities research analysts at Zacks Research cut their FY2024 earnings per share estimates for shares of Marathon Oil in a report released on Tuesday, November 19th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas producer will earn $2.32 per share for the year, down from their prior estimate of $2.37. The consensus estimate for Marathon Oil’s current full-year earnings is $2.34 per share. Zacks Research also issued estimates for Marathon Oil’s Q4 2024 earnings at $0.50 EPS, Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.50 EPS, FY2025 earnings at $2.09 EPS, Q1 2026 earnings at $0.38 EPS, Q2 2026 earnings at $0.42 EPS and FY2026 earnings at $1.73 EPS.

A number of other analysts have also commented on the company. Truist Financial decreased their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a report on Monday, September 30th. Barclays decreased their price target on Marathon Oil from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Mizuho dropped their price objective on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. UBS Group lowered their target price on shares of Marathon Oil from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.94.

Marathon Oil Trading Up 0.6 %

MRO opened at $28.92 on Thursday. Marathon Oil has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The firm has a market capitalization of $16.18 billion, a PE ratio of 12.41 and a beta of 2.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.61. The company’s 50-day moving average is $27.46 and its 200 day moving average is $27.61.

Marathon Oil (NYSE:MRO) last issued its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. Marathon Oil’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS.

Marathon Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.11 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.52%. Marathon Oil’s dividend payout ratio (DPR) is currently 18.88%.

Insider Activity at Marathon Oil

In other Marathon Oil news, CEO Lee M. Tillman sold 256,591 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $29.07, for a total value of $7,459,100.37. Following the transaction, the chief executive officer now directly owns 596,330 shares in the company, valued at $17,335,313.10. This represents a 30.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael A. Henderson sold 38,000 shares of Marathon Oil 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 sale, the vice president now owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The trade was a 33.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 382,693 shares of company stock valued at $10,964,251. Corporate insiders own 0.35% of the company’s stock.

Institutional Trading of Marathon Oil

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC raised its stake in shares of Marathon Oil by 84.3% during the third quarter. Virtu Financial LLC now owns 79,122 shares of the oil and gas producer’s stock worth $2,107,000 after acquiring an additional 36,192 shares in the last quarter. Soltis Investment Advisors LLC boosted its position in Marathon Oil by 1,444.1% during the third quarter. Soltis Investment Advisors LLC now owns 266,970 shares of the oil and gas producer’s stock valued at $7,109,000 after buying an additional 249,680 shares during the period. Chiron Investment Management LLC grew its stake in shares of Marathon Oil by 14.3% during the third quarter. Chiron Investment Management LLC now owns 9,206 shares of the oil and gas producer’s stock valued at $245,000 after buying an additional 1,151 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Marathon Oil by 6.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 40,752 shares of the oil and gas producer’s stock valued at $1,090,000 after acquiring an additional 2,326 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Marathon Oil by 8.8% during the 3rd quarter. Barclays PLC now owns 1,490,171 shares of the oil and gas producer’s stock valued at $39,683,000 after acquiring an additional 120,284 shares during the period. Institutional investors 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.