Marathon Oil (NYSE:MRO) Price Target Raised to $31.00 at Mizuho

Marathon Oil (NYSE:MRO) had its target price hoisted by Mizuho from $30.00 to $31.00 in a research note released on Monday morning, MarketBeat.com reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Several other research firms also recently weighed in on MRO. Morgan Stanley dropped their target price on shares of Marathon Oil from $27.00 to $26.00 and set an overweight rating on the stock in a research report on Tuesday, July 18th. Truist Financial dropped their target price on Marathon Oil from $39.00 to $35.00 in a research report on Monday, July 24th. Benchmark decreased their price target on shares of Marathon Oil from $32.00 to $28.00 and set a buy rating on the stock in a research note on Friday, July 14th. Citigroup raised their price target on shares of Marathon Oil from $27.00 to $29.00 in a research note on Thursday, July 13th. Finally, UBS Group raised their target price on shares of Marathon Oil from $29.00 to $35.00 and gave the stock a buy rating in a research note on Thursday, August 17th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $32.31.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $26.89 on Monday. The company’s fifty day moving average is $26.03 and its 200 day moving average is $24.40. Marathon Oil has a 52 week low of $20.57 and a 52 week high of $33.42. The stock has a market cap of $16.29 billion, a PE ratio of 8.48, a PEG ratio of 0.57 and a beta of 2.37. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 0.51.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.48 EPS for the quarter, topping the consensus estimate of $0.43 by $0.05. Marathon Oil had a net margin of 28.52% and a return on equity of 18.67%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Marathon Oil’s quarterly revenue was down 34.3% on a year-over-year basis. Research analysts anticipate that Marathon Oil will post 2.43 earnings per share for the current year.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.40 annualized dividend and a yield of 1.49%. Marathon Oil’s dividend payout ratio (DPR) is currently 12.62%.

Insider Activity

In other Marathon Oil news, CFO Dane E. Whitehead sold 50,000 shares of Marathon Oil stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $25.76, for a total transaction of $1,288,000.00. Following the completion of the transaction, the chief financial officer now directly owns 221,504 shares of the company’s stock, valued at $5,705,943.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Rob L. White sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $26.24, for a total value of $209,920.00. Following the completion of the transaction, the chief accounting officer now owns 32,009 shares of the company’s stock, valued at $839,916.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dane E. Whitehead sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $25.76, for a total value of $1,288,000.00. Following the completion of the sale, the chief financial officer now owns 221,504 shares in the company, valued at $5,705,943.04. The disclosure for this sale can be found here. Insiders have sold 112,756 shares of company stock worth $2,935,605 over the last ninety days. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Marathon Oil

A number of institutional investors and hedge funds have recently bought and sold shares of MRO. Carl Stuart Investment Advisor Inc. bought a new position in Marathon Oil in the 1st quarter worth about $15,200,230,000. ICA Group Wealth Management LLC increased its stake in Marathon Oil by 92.6% in the 1st quarter. ICA Group Wealth Management LLC now owns 1,086 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 522 shares during the period. Manchester Capital Management LLC purchased a new position in shares of Marathon Oil during the first quarter valued at approximately $28,000. KB Financial Partners LLC bought a new stake in shares of Marathon Oil during the first quarter valued at approximately $31,000. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Marathon Oil during the second quarter valued at approximately $31,000. 76.62% of the stock is owned by hedge funds and other institutional investors.

About Marathon Oil

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.