Marathon Oil Corp. (MRO) Shares Up 5.6%
Marathon Oil Corp. (NYSE:MRO) shot up 5.6% on Tuesday . The company traded as high as $16.54 and last traded at $16.51, with a volume of 18,967,747 shares trading hands. The stock had previously closed at $15.64.
A number of brokerages have weighed in on MRO. Capital One Financial Corp. upgraded Marathon Oil Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $15.00 to $17.00 in a research note on Tuesday, June 21st. Bank of America Corp. raised Marathon Oil Corp. from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.90 to $21.00 in a report on Tuesday, August 16th. Royal Bank Of Canada boosted 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. Citigroup Inc. raised Marathon Oil Corp. to a “strong-buy” rating and set a $18.00 target price on the stock in a report on Thursday, July 7th. Finally, Zacks Investment Research raised Marathon Oil Corp. from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $17.76.
The stock’s market cap is $13.92 billion. The company has a 50-day moving average price of $14.55 and a 200-day moving average price of $12.49.
Marathon Oil Corp. (NYSE:MRO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.05. The firm had revenue of $1.30 billion for 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 posted ($0.23) earnings per share. Analysts anticipate that Marathon Oil Corp. will post ($0.95) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, August 15th.
Other institutional investors recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Marathon Oil Corp. during the fourth quarter worth about $1,953,000. Principal Financial Group Inc. boosted its position in shares of Marathon Oil Corp. by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 999,820 shares of the company’s stock worth $12,587,000 after buying an additional 51,475 shares during the last quarter. American International Group Inc. boosted its position in shares of 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. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted 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 worth $1,132,000 after buying an additional 5,791 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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