Marathon Oil Corp. (MRO) Stock Price Down 2.3%
Marathon Oil Corp. (NYSE:MRO)’s share price traded down 2.3% during trading on Tuesday . The company traded as low as $15.62 and last traded at $15.63, with a volume of 8,000,172 shares. The stock had previously closed at $15.99.
MRO has been the subject of a number of recent analyst reports. 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 report on Tuesday, June 21st. Bank of America Corp. upgraded Marathon Oil Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.90 to $21.00 in a report on Tuesday, August 16th. Royal Bank Of Canada boosted their price objective 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. upgraded Marathon Oil Corp. to a “strong-buy” rating and set a $18.00 price objective for the company in a report on Thursday, July 7th. Finally, Zacks Investment Research upgraded Marathon Oil Corp. from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $17.76.
The firm’s 50 day moving average is $14.76 and its 200-day moving average is $12.86. The stock’s market cap is $13.17 billion.
Marathon Oil Corp. (NYSE:MRO) last released its earnings results on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.05. During the same quarter last year, the business posted ($0.23) earnings per share. The company earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.12 billion. The company’s revenue for the quarter was down 15.0% on a year-over-year basis. Analysts forecast that Marathon Oil Corp. will post ($0.96) 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. The ex-dividend date is Monday, August 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.29%.
A hedge fund recently raised its stake in Marathon Oil Corp. stock. Principal Financial Group Inc. increased its position in shares of Marathon Oil Corp. (NYSE:MRO) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 999,820 shares of the company’s stock after buying an additional 51,475 shares during the period. Principal Financial Group Inc. owned 0.15% of Marathon Oil Corp. worth $12,587,000 as of its most recent SEC filing.
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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