Canaccord Genuity Initiates Coverage on Marathon Oil Corp. (MRO)
Equities research analysts at Canaccord Genuity assumed coverage on shares of Marathon Oil Corp. (NYSE:MRO) in a research note issued to investors on Friday. The firm set a “hold” rating and a $16.00 price target on the stock. Canaccord Genuity’s price target suggests a potential upside of 0.13% from the company’s previous close.
Other analysts also recently issued research reports about the company. Bank of America Corp. raised Marathon Oil Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.90 to $21.00 in a research note on Tuesday, August 16th. 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 price objective 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 price target for the company in a report on Thursday, July 7th. Finally, Jefferies Group set a $18.00 price target on Marathon Oil Corp. and gave the stock a “buy” rating in a report on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.02.
Marathon Oil Corp. (NYSE:MRO) opened at 15.98 on Friday. Marathon Oil Corp. has a 52 week low of $6.52 and a 52 week high of $20.44. The firm has a 50-day moving average price of $15.31 and a 200-day moving average price of $13.83. The stock’s market cap is $13.54 billion.
Marathon Oil Corp. (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.05. Marathon Oil Corp. had a negative return on equity of 5.07% and a negative net margin of 43.87%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company earned ($0.23) EPS. The firm’s revenue was down 15.0% on a year-over-year basis. On average, equities research analysts predict that Marathon Oil Corp. will post ($0.98) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Monday, August 15th. Marathon Oil Corp.’s payout ratio is -6.58%.
Several institutional investors have recently added to or reduced their stakes in MRO. State Street Corp boosted its position in Marathon Oil Corp. by 23.5% in the first quarter. State Street Corp now owns 43,544,730 shares of the company’s stock worth $485,080,000 after buying an additional 8,286,018 shares during the last quarter. Franklin Resources Inc. boosted its position in Marathon Oil Corp. by 23.6% in the first quarter. Franklin Resources Inc. now owns 40,117,684 shares of the company’s stock worth $446,911,000 after buying an additional 7,665,148 shares during the last quarter. BlackRock Group LTD boosted its position in Marathon Oil Corp. by 71.7% in the first quarter. BlackRock Group LTD now owns 17,985,686 shares of the company’s stock worth $200,363,000 after buying an additional 7,512,828 shares during the last quarter. Boston Partners purchased a new position in Marathon Oil Corp. during the second quarter worth about $109,519,000. Finally, FMR LLC boosted its position in Marathon Oil Corp. by 60.4% in the second quarter. FMR LLC now owns 17,566,438 shares of the company’s stock worth $263,671,000 after buying an additional 6,615,551 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.
About Marathon Oil Corp.
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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