Marathon Oil Co. Plans Quarterly Dividend of $0.11 (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO) declared a quarterly dividend on Wednesday, July 31st, RTT News reports. Stockholders of record on Wednesday, August 21st will be given a dividend of 0.11 per share by the oil and gas producer on Tuesday, September 10th. This represents a $0.44 annualized dividend and a dividend yield of 1.57%.

Marathon Oil has raised its dividend by an average of 72.4% per year over the last three years. Marathon Oil has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Oil to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 14.1%.

Marathon Oil Price Performance

MRO stock opened at $28.05 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.55 and a quick ratio of 0.48. Marathon Oil has a 1 year low of $21.81 and a 1 year high of $30.06. The company’s 50-day moving average is $28.04 and its 200-day moving average is $26.46. The stock has a market capitalization of $15.82 billion, a PE ratio of 11.59 and a beta of 2.19.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. Equities research analysts expect that Marathon Oil will post 2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Capital One Financial lowered shares of Marathon Oil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 5th. Morgan Stanley raised their target price on shares of Marathon Oil from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $29.00 price objective (down previously from $38.00) on shares of Marathon Oil in a report on Friday, May 31st. Truist Financial cut their price objective on Marathon Oil from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Finally, Benchmark reiterated a “buy” rating and issued a $32.00 price target on shares of Marathon Oil in a research note on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.14.

About Marathon Oil

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.