Piper Sandler Raises Marathon Oil (NYSE:MRO) Price Target to $41.00

Marathon Oil (NYSE:MROGet Rating) had its target price hoisted by Piper Sandler from $38.00 to $41.00 in a report published on Friday morning, The Fly reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

Several other research firms have also issued reports on MRO. Susquehanna raised shares of Marathon Oil from a neutral rating to a positive rating and set a $32.00 price target for the company in a research report on Monday, April 25th. Morgan Stanley dropped their target price on Marathon Oil from $33.00 to $31.00 and set an equal weight rating for the company in a report on Tuesday, July 19th. Bank of America cut their target price on Marathon Oil from $28.00 to $25.00 and set an underperform rating for the company in a research report on Tuesday, July 19th. Susquehanna Bancshares upgraded Marathon Oil from a neutral rating to a positive rating and set a $32.00 price target on the stock in a research report on Monday, April 25th. Finally, Barclays lifted their price objective on Marathon Oil from $30.00 to $37.00 and gave the company an overweight rating in a report on Tuesday, June 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Oil presently has a consensus rating of Moderate Buy and a consensus price target of $30.88.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $21.75 on Friday. The firm has a market capitalization of $15.39 billion, a PE ratio of 7.58, a PEG ratio of 0.30 and a beta of 2.61. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.34. Marathon Oil has a 1-year low of $10.41 and a 1-year high of $33.24. The business’s 50 day moving average is $25.73 and its 200-day moving average is $24.02.

Marathon Oil (NYSE:MROGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.04. Marathon Oil had a net margin of 35.01% and a return on equity of 16.78%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company earned $0.21 earnings per share. The business’s revenue was up 63.7% compared to the same quarter last year. Sell-side analysts predict that Marathon Oil will post 5.03 earnings per share for the current year.

Marathon Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, May 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Marathon Oil’s previous quarterly dividend of $0.07. Marathon Oil’s payout ratio is presently 11.15%.

Insider Activity at Marathon Oil

In other Marathon Oil news, CFO Dane E. Whitehead sold 30,291 shares of the business’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $28.03, for a total transaction of $849,056.73. Following the completion of the sale, the chief financial officer now directly owns 290,934 shares of the company’s stock, valued at approximately $8,154,880.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marathon Oil news, CFO Dane E. Whitehead sold 30,291 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $28.03, for a total value of $849,056.73. Following the transaction, the chief financial officer now directly owns 290,934 shares of the company’s stock, valued at $8,154,880.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dane E. Whitehead sold 79,711 shares of Marathon Oil stock in a transaction on Monday, May 16th. The stock was sold at an average price of $28.18, for a total transaction of $2,246,255.98. Following the sale, the chief financial officer now directly owns 321,225 shares of the company’s stock, valued at approximately $9,052,120.50. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marathon Oil

Several hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. bought a new stake in shares of Marathon Oil in the 1st quarter valued at about $25,000. Zullo Investment Group Inc. acquired a new position in Marathon Oil during the first quarter valued at approximately $30,000. Tsfg LLC bought a new stake in Marathon Oil in the first quarter valued at approximately $31,000. Brown Brothers Harriman & Co. increased its stake in Marathon Oil by 90.6% in the first quarter. Brown Brothers Harriman & Co. now owns 1,361 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 647 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Marathon Oil by 76.6% in the first quarter. Covestor Ltd now owns 1,427 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 619 shares during the period. Institutional investors and hedge funds own 79.19% of the company’s stock.

Marathon Oil Company Profile

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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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