Marathon Oil (NYSE:MRO) Price Target Cut to $37.00 by Analysts at Susquehanna

Marathon Oil (NYSE:MRO) had its price target reduced by Susquehanna from $39.00 to $37.00 in a research report released on Wednesday, Benzinga reports. Susquehanna currently has a positive rating on the oil and gas producer’s stock.

A number of other brokerages also recently weighed in on MRO. Mizuho boosted their target price on shares of Marathon Oil from $33.00 to $34.00 and gave the stock a neutral rating in a report on Wednesday, June 5th. Wells Fargo & Company restated an equal weight rating and set a $29.00 price objective (down from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. Scotiabank cut their target price on shares of Marathon Oil from $29.00 to $27.61 and set a sector perform rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. reissued a neutral rating and set a $33.00 price target on shares of Marathon Oil in a research report on Wednesday, July 17th. Finally, Piper Sandler raised their price objective on Marathon Oil from $34.00 to $37.00 and gave the company an overweight rating in a research report on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $32.03.

Marathon Oil Trading Down 1.3 %

Shares of NYSE:MRO opened at $26.72 on Wednesday. The stock has a market capitalization of $15.07 billion, a PE ratio of 11.04 and a beta of 2.16. The company’s 50-day moving average price is $27.99 and its two-hundred day moving average price is $27.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. Marathon Oil has a one year low of $21.81 and a one year high of $30.06.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share. On average, equities analysts forecast that Marathon Oil will post 2.76 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Oil’s dividend payout ratio is 18.18%.

Institutional Trading of Marathon Oil

A number of institutional investors have recently bought and sold shares of MRO. Vanguard Group Inc. grew its position in Marathon Oil by 9.9% during the first quarter. Vanguard Group Inc. now owns 75,751,369 shares of the oil and gas producer’s stock worth $2,146,794,000 after buying an additional 6,835,604 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Marathon Oil by 24.3% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 19,388,560 shares of the oil and gas producer’s stock worth $468,428,000 after purchasing an additional 3,795,020 shares during the period. Los Angeles Capital Management LLC acquired a new position in Marathon Oil in the second quarter valued at about $64,061,000. Magnetar Financial LLC bought a new stake in Marathon Oil during the second quarter worth about $63,556,000. Finally, Pacer Advisors Inc. grew its stake in Marathon Oil by 13.1% during the second quarter. Pacer Advisors Inc. now owns 13,369,821 shares of the oil and gas producer’s stock worth $383,313,000 after buying an additional 1,552,210 shares in the last quarter. Institutional investors own 77.24% of the company’s stock.

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.