Marathon Oil Corp. (MRO) Shares Gap Up to $15.70
Shares of Marathon Oil Corp. (NYSE:MRO) gapped up before the market opened on Thursday . The stock had previously closed at $15.65, but opened at $15.70. Marathon Oil Corp. shares last traded at $16.63, with a volume of 15,630,703 shares trading hands.
A number of analysts have recently weighed in on MRO shares. Bank of America Corp. raised Marathon Oil Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.90 to $21.00 in a research note on Tuesday. Simmons restated an “overweight” rating on shares of Marathon Oil Corp. in a report on Thursday, August 11th. Citigroup Inc. upgraded Marathon Oil Corp. to a “strong-buy” rating and set a $18.00 target price for the company in a report on Thursday, July 7th. Raymond James Financial Inc. upgraded Marathon Oil Corp. from an “outperform” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Thursday, July 7th. Finally, Royal Bank Of Canada upped their target price on Marathon Oil Corp. from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $17.76.
The firm’s market cap is $14.13 billion. The stock’s 50 day moving average is $14.50 and its 200 day moving average is $12.34.
Marathon Oil Corp. (NYSE:MRO) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.05. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.12 billion. The company’s quarterly revenue was down 15.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.23) earnings per share. On average, analysts forecast that Marathon Oil Corp. will post ($0.95) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Monday, August 15th.
A number of hedge funds and institutional investors have made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of Marathon Oil Corp. by 6.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 89,949 shares of the company’s stock valued at $1,132,000 after buying an additional 5,791 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Marathon Oil Corp. during the fourth quarter valued at $1,953,000. Andra AP fonden increased its stake in Marathon Oil Corp. by 8.6% in the fourth quarter. Andra AP fonden now owns 181,800 shares of the company’s stock valued at $2,289,000 after buying an additional 14,400 shares during the last quarter. Bridgewater Associates LP increased its stake in Marathon Oil Corp. by 9.2% in the fourth quarter. Bridgewater Associates LP now owns 209,800 shares of the company’s stock valued at $2,641,000 after buying an additional 17,600 shares during the last quarter. Finally, American International Group Inc. increased its stake in Marathon Oil Corp. by 2.3% in the fourth quarter. American International Group Inc. now owns 419,023 shares of the company’s stock valued at $5,276,000 after buying an additional 9,280 shares during the last quarter.
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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