Marathon Oil Corp. (MRO) Now Covered by R. F. Lafferty
Equities researchers at R. F. Lafferty assumed coverage on shares of Marathon Oil Corp. (NYSE:MRO) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $29.00 price target on the stock. R. F. Lafferty’s price target suggests a potential upside of 93.98% from the company’s current price.
Several other brokerages also recently issued reports on MRO. Societe Generale downgraded Marathon Oil Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 9th. Bank of America Corp. set a $21.00 price target on Marathon Oil Corp. and gave the stock a “buy” rating in a report on Thursday, September 8th. Vetr downgraded Marathon Oil Corp. from a “buy” rating to a “hold” rating and set a $16.67 price target for the company. in a report on Monday, November 21st. Seaport Global Securities downgraded Marathon Oil Corp. from a “buy” rating to a “neutral” rating and set a $17.00 price target for the company. in a report on Tuesday, August 30th. Finally, Canaccord Genuity began coverage on Marathon Oil Corp. in a report on Friday, September 30th. They set a “hold” rating and a $16.00 price target for the company. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.67.
Marathon Oil Corp. (NYSE:MRO) opened at 14.95 on Monday. Marathon Oil Corp. has a 52-week low of $6.52 and a 52-week high of $17.67. The company’s market cap is $12.67 billion. The firm’s 50-day moving average price is $14.76 and its 200 day moving average price is $14.59.
Marathon Oil Corp. (NYSE:MRO) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.09. Marathon Oil Corp. had a negative return on equity of 4.91% and a negative net margin of 32.98%. The business earned $1.23 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted ($0.20) earnings per share. Marathon Oil Corp.’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts predict that Marathon Oil Corp. will post ($0.91) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.34%. Marathon Oil Corp.’s dividend payout ratio (DPR) is presently -9.26%.
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Several institutional investors have recently made changes to their positions in MRO. Boston Partners raised its position in shares of Marathon Oil Corp. by 417.2% in the third quarter. Boston Partners now owns 37,738,524 shares of the company’s stock valued at $596,646,000 after buying an additional 30,442,089 shares during the period. FMR LLC raised its position in shares of Marathon Oil Corp. by 60.4% in the second quarter. FMR LLC now owns 17,566,438 shares of the company’s stock valued at $263,671,000 after buying an additional 6,615,551 shares during the period. Third Point LLC purchased a new position in shares of Marathon Oil Corp. during the second quarter valued at approximately $60,040,000. Vanguard Group Inc. raised its position in shares of Marathon Oil Corp. by 4.9% in the second quarter. Vanguard Group Inc. now owns 77,741,849 shares of the company’s stock valued at $1,166,906,000 after buying an additional 3,643,905 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of Marathon Oil Corp. by 70.1% in the third quarter. Schroder Investment Management Group now owns 7,128,961 shares of the company’s stock valued at $112,710,000 after buying an additional 2,937,094 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.
About Marathon Oil Corp.
Marathon Oil Corporation is an exploration and production company with operations in North America, Europe and Africa. The Company operates through three segments: North America E&P (N.A. E&P), International E&P (Int’l E&P), and Oil Sands Mining (OSM). The N.A. E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.
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