Marathon Oil Co. (NYSE:MRO) Declares $0.11 Quarterly Dividend

Marathon Oil Co. (NYSE:MRO) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Investors of record on Friday, November 15th will be given a dividend of 0.11 per share by the oil and gas producer on Tuesday, December 10th. This represents a $0.44 annualized dividend and a yield of 1.69%.

Marathon Oil has raised its dividend by an average of 72.4% per year over the last three years. Marathon Oil has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Oil to earn $2.46 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 17.9%.

Marathon Oil Stock Up 0.8 %

Shares of Marathon Oil stock traded up $0.21 during trading on Wednesday, reaching $26.09. The stock had a trading volume of 4,421,844 shares, compared to its average volume of 8,043,058. The company has a market capitalization of $14.59 billion, a price-to-earnings ratio of 10.07 and a beta of 2.16. The stock has a fifty day moving average price of $27.34 and a two-hundred day moving average price of $27.53. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. Marathon Oil has a 52 week low of $21.81 and a 52 week high of $30.06.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. Sell-side analysts predict that Marathon Oil will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Marathon Oil

In other news, insider Dane E. Whitehead sold 52,008 shares of the business’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 completion of the sale, the insider now owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Michael A. Henderson sold 38,000 shares of the 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction on 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 completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler raised their price objective on Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. UBS Group dropped their price objective on Marathon Oil from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. StockNews.com began coverage on shares of Marathon Oil in a research note on Wednesday. They issued a “buy” rating for the company. Susquehanna cut their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, Citigroup lowered their price objective on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marathon Oil presently has an average rating of “Moderate Buy” and an average target price of $31.12.

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.