Morgan Stanley Boosts Marathon Oil (NYSE:MRO) Price Target to $27.00

Marathon Oil (NYSE:MRO) had its target price upped by Morgan Stanley from $26.00 to $27.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas producer’s stock.

Several other research analysts also recently weighed in on the company. Piper Sandler cut their price target on Marathon Oil from $34.00 to $32.00 and set an overweight rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada reiterated an outperform rating and issued a $33.00 target price on shares of Marathon Oil in a research note on Tuesday, March 5th. The Goldman Sachs Group upped their price objective on shares of Marathon Oil from $26.50 to $30.00 and gave the company a neutral rating in a research note on Tuesday, March 26th. Truist Financial boosted their target price on shares of Marathon Oil from $35.00 to $36.00 and gave the company a buy rating in a report on Friday, April 5th. Finally, UBS Group cut their price target on shares of Marathon Oil from $28.00 to $27.00 and set a neutral rating on the stock in a research note on Wednesday, March 6th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $32.66.

Marathon Oil Stock Down 1.1 %

Shares of NYSE:MRO opened at $28.77 on Monday. The company has a market capitalization of $16.44 billion, a P/E ratio of 11.24 and a beta of 2.22. The stock’s fifty day simple moving average is $25.82 and its 200-day simple moving average is $25.30. Marathon Oil has a 52-week low of $21.63 and a 52-week high of $30.06. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 0.30.

Marathon Oil (NYSE:MRO) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. As a group, equities research analysts forecast that Marathon Oil will post 2.62 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, February 20th. Marathon Oil’s dividend payout ratio (DPR) is 17.19%.

Insider Transactions at Marathon Oil

In related news, insider Patrick Wagner sold 36,094 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total transaction of $997,999.10. Following the completion of the sale, the insider now directly owns 140,829 shares of the company’s stock, valued at approximately $3,893,921.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Patrick Wagner sold 36,094 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total value of $997,999.10. Following the transaction, the insider now owns 140,829 shares in the company, valued at $3,893,921.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Dane E. Whitehead sold 73,233 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $27.06, for a total value of $1,981,684.98. Following the sale, the chief financial officer now owns 152,008 shares of the company’s stock, valued at approximately $4,113,336.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 281,332 shares of company stock valued at $7,644,903. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. TradeLink Capital LLC acquired a new stake in Marathon Oil during the first quarter valued at approximately $781,000. D.A. Davidson & CO. acquired a new stake in shares of Marathon Oil during the 1st quarter valued at approximately $209,000. Great West Life Assurance Co. Can raised its position in shares of Marathon Oil by 6.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 160,065 shares of the oil and gas producer’s stock valued at $4,192,000 after acquiring an additional 10,388 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Marathon Oil during the first quarter worth $206,000. Finally, Cibc World Market Inc. boosted its holdings in Marathon Oil by 7.4% in the first quarter. Cibc World Market Inc. now owns 187,679 shares of the oil and gas producer’s stock worth $4,713,000 after purchasing an additional 12,859 shares during the period. 77.24% of the stock is owned by institutional investors and hedge funds.

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.