Brokers Set Expectations for Marathon Oil Co.’s Q1 2024 Earnings (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO – Get Rating) – Stock analysts at US Capital Advisors issued their Q1 2024 EPS estimates for Marathon Oil in a research note issued on Monday, April 25th. US Capital Advisors analyst C. Horwitz anticipates that the oil and gas producer will post earnings per share of $0.97 for the quarter.

Marathon Oil (NYSE:MRO – Get Rating) last posted its quarterly earnings data on Wednesday, February 16th. The oil and gas producer reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.22. Marathon Oil had a net margin of 17.30% and a return on equity of 11.60%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the company posted ($0.12) EPS. Marathon Oil’s revenue was up 116.9% on a year-over-year basis.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Marathon Oil from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research report on Monday, February 7th. Piper Sandler increased their target price on Marathon Oil from $27.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, April 7th. Wells Fargo & Company raised their price objective on Marathon Oil from $24.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, March 14th. Royal Bank of Canada raised their price objective on Marathon Oil from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, March 30th. Finally, Truist Financial raised their target price on shares of Marathon Oil from $34.00 to $41.00 in a research note on Thursday, April 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $29.94.

Shares of Marathon Oil stock opened at $24.14 on Tuesday. The firm has a fifty day moving average of $24.18 and a two-hundred day moving average of $19.76. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 0.42 and a beta of 2.76. Marathon Oil has a 52 week low of $10.41 and a 52 week high of $27.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.11.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. raised its stake in Marathon Oil by 1.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 600,660 shares of the oil and gas producer’s stock worth $15,081,000 after acquiring an additional 10,248 shares in the last quarter. Tsfg LLC purchased a new stake in shares of Marathon Oil in the first quarter valued at about $31,000. Tobam boosted its holdings in Marathon Oil by 249.3% during the first quarter. Tobam now owns 12,656 shares of the oil and gas producer’s stock worth $318,000 after buying an additional 9,033 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in Marathon Oil during the first quarter worth about $402,000. Finally, Balasa Dinverno & Foltz LLC raised its position in Marathon Oil by 149.7% during the first quarter. Balasa Dinverno & Foltz LLC now owns 35,444 shares of the oil and gas producer’s stock worth $890,000 after acquiring an additional 21,248 shares during the last quarter. 77.26% of the stock is owned by institutional investors.

In other news, CEO Lee M. Tillman sold 270,588 shares of the stock in a transaction on Friday, March 25th. The shares were sold at an average price of $26.09, for a total value of $7,059,640.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Rob L. White sold 8,700 shares of the stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $23.00, for a total transaction of $200,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,180,065 shares of company stock worth $29,703,167. 0.76% of the stock is owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Stockholders of record on Wednesday, February 16th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, February 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.16%. This is a boost from Marathon Oil’s previous quarterly dividend of $0.06. Marathon Oil’s dividend payout ratio (DPR) is 23.14%.

About Marathon Oil (Get Rating)

Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

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