Marathon Oil Corp. (MRO) Trading 2.2% Higher
Marathon Oil Corp. (NYSE:MRO) traded up 2.2% during mid-day trading on Tuesday . The company traded as high as $15.24 and last traded at $15.23, with a volume of 11,716,972 shares trading hands. The stock had previously closed at $14.90.
Several brokerages recently weighed in on MRO. Capital One Financial Corp. raised shares of Marathon Oil Corp. from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $15.00 to $17.00 in a report on Tuesday, June 21st. Bank of America Corp. raised shares of Marathon Oil Corp. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.90 to $21.00 in a report on Tuesday. Royal Bank Of Canada upped their target price on shares of Marathon Oil Corp. from $14.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, July 8th. Citigroup Inc. raised shares of 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. Finally, Zacks Investment Research raised shares of Marathon Oil Corp. from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Marathon Oil Corp. currently has a consensus rating of “Buy” and a consensus price target of $17.76.
The company has a 50-day moving average price of $14.46 and a 200 day moving average price of $12.31. The company’s market cap is $13.30 billion.
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 company earned $1.30 billion during the quarter, compared to analyst estimates of $1.12 billion. The firm’s revenue for the quarter was down 15.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.23) EPS. Analysts anticipate that Marathon Oil Corp. will post ($0.95) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.27%.
A number of institutional investors have bought and sold shares of MRO. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in 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 worth $1,132,000 after buying an additional 5,791 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Marathon Oil Corp. during the fourth quarter worth $1,953,000. Andra AP fonden raised its position in Marathon Oil Corp. by 8.6% in the fourth quarter. Andra AP fonden now owns 181,800 shares of the company’s stock worth $2,289,000 after buying an additional 14,400 shares during the last quarter. Bridgewater Associates LP raised its position in Marathon Oil Corp. by 9.2% in the fourth quarter. Bridgewater Associates LP now owns 209,800 shares of the company’s stock worth $2,641,000 after buying an additional 17,600 shares during the last quarter. Finally, American International Group Inc. raised its position 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 worth $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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