Marathon Oil (NYSE:MRO) Shares Gap Up to $26.45

Marathon Oil Co. (NYSE:MROGet Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $26.45, but opened at $29.35. Marathon Oil shares last traded at $28.77, with a volume of 9,487,530 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on MRO shares. Stifel Nicolaus lowered their price objective on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Morgan Stanley increased their price target on Marathon Oil from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on Marathon Oil from $26.50 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Argus upgraded Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Thursday, March 14th. Finally, Piper Sandler upped their price target on shares of Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.14.

Get Our Latest Report on MRO

Marathon Oil Stock Performance

The company has a market cap of $15.91 billion, a P/E ratio of 11.66 and a beta of 2.22. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average price of $27.53 and a 200-day moving average price of $25.33.

Marathon Oil (NYSE:MROGet Free Report) last announced its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. Marathon Oil’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. Equities analysts expect that Marathon Oil Co. will post 2.89 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, May 14th. Marathon Oil’s dividend payout ratio (DPR) is presently 18.18%.

Insider Activity

In other news, VP Michael A. Henderson sold 51,389 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $27.59, for a total value of $1,417,822.51. Following the completion of the transaction, the vice president now directly owns 114,828 shares in the company, valued at $3,168,104.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 transaction of $1,981,684.98. Following the completion of the sale, the chief financial officer now directly owns 152,008 shares in the company, valued at $4,113,336.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Henderson sold 51,389 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $27.59, for a total transaction of $1,417,822.51. Following the sale, the vice president now owns 114,828 shares of the company’s stock, valued at $3,168,104.52. The disclosure for this sale can be found here. Insiders sold 281,332 shares of company stock worth $7,644,903 over the last three months. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Marathon Oil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Marathon Oil in the 3rd quarter worth approximately $27,000. Riverview Trust Co acquired a new position in Marathon Oil in the 1st quarter worth approximately $27,000. Benjamin Edwards Inc. boosted its stake in Marathon Oil by 226.0% in the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 678 shares during the period. Fortis Group Advisors LLC boosted its stake in Marathon Oil by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 618 shares during the period. Finally, Manchester Capital Management LLC purchased a new stake in Marathon Oil in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Company Profile

(Get Free Report)

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.

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