Marathon Oil (NYSE:MRO) Price Target Lowered to $39.00 at Piper Sandler

Marathon Oil (NYSE:MROGet Rating) had its price target cut by investment analysts at Piper Sandler to $39.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage currently has a “na” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would suggest a potential upside of 47.45% from the company’s current price.

Several other research firms also recently weighed in on MRO. 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 note on Monday, February 7th. Wells Fargo & Company lifted their target price on shares of Marathon Oil from $24.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, March 14th. StockNews.com assumed coverage on shares of Marathon Oil in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Royal Bank of Canada raised their price objective on shares of Marathon Oil from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, March 30th. Finally, Susquehanna Bancshares upgraded shares of Marathon Oil from a “neutral” rating to a “positive” rating and set a $32.00 price objective for the company in a research report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $30.06.

NYSE MRO traded down $1.91 during trading hours on Wednesday, reaching $26.45. 764,933 shares of the company were exchanged, compared to its average volume of 21,393,742. The stock has a market capitalization of $18.72 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.40 and a beta of 2.57. The company has a quick ratio of 1.06, a current ratio of 1.10 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $25.30 and its 200-day simple moving average is $20.82. Marathon Oil has a 1 year low of $10.41 and a 1 year high of $29.00.

Marathon Oil (NYSE:MROGet Rating) last posted its earnings results on Wednesday, May 4th. The oil and gas producer reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.04. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.83 billion. Marathon Oil had a net margin of 35.01% and a return on equity of 16.78%. The company’s revenue was up 63.7% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. As a group, sell-side analysts anticipate that Marathon Oil will post 4.73 earnings per share for the current year.

In other Marathon Oil news, CEO Lee M. Tillman sold 54,151 shares of Marathon Oil stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $23.11, for a total transaction of $1,251,429.61. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Rob L. White sold 8,700 shares of Marathon Oil stock in a transaction that occurred on Thursday, March 3rd. The stock was 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. Over the last quarter, insiders have sold 1,180,065 shares of company stock valued at $29,703,167. 0.52% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the business. Gabelli Funds LLC purchased a new position in shares of Marathon Oil during the first quarter worth approximately $4,821,000. Range Financial Group LLC purchased a new position in shares of Marathon Oil during the first quarter worth approximately $588,000. Weiss Multi Strategy Advisers LLC increased its stake in shares of Marathon Oil by 67.6% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 639,863 shares of the oil and gas producer’s stock worth $16,067,000 after buying an additional 258,051 shares during the period. Mirabella Financial Services LLP purchased a new position in shares of Marathon Oil in the first quarter worth $1,581,000. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Marathon Oil in the first quarter worth $920,000. 79.19% of the stock is currently owned by hedge funds and other institutional investors.

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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