Investors Buy Marathon Oil Corp. (MRO) on Weakness
Investors bought shares of Marathon Oil Corp. (NYSE:MRO) on weakness during trading hours on Friday. $52.55 million flowed into the stock on the tick-up and $43.25 million flowed out of the stock on the tick-down, for a money net flow of $9.30 million into the stock. Of all stocks tracked, Marathon Oil Corp. had the 28th highest net in-flow for the day. Marathon Oil Corp. traded down ($0.31) for the day and closed at $14.11
A number of brokerages recently weighed in on MRO. Zacks Investment Research raised shares of Marathon Oil Corp. from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Tuesday, July 5th. Barclays PLC lifted their price target on shares of Marathon Oil Corp. from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Thursday, July 14th. Royal Bank Of Canada reissued a “hold” rating on shares of Marathon Oil Corp. in a research note on Saturday, July 9th. Jefferies Group reissued a “buy” rating and set a $17.00 price target (up from $16.00) on shares of Marathon Oil Corp. in a research note on Monday, July 11th. Finally, Citigroup Inc. raised shares of Marathon Oil Corp. to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Thursday, July 7th. Two analysts have rated the stock with a sell rating, twelve 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 target price of $17.65.
The company’s market capitalization is $11.96 billion. The stock has a 50-day moving average of $14.47 and a 200-day moving average of $11.71.
Marathon Oil Corp. (NYSE:MRO) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.43) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.03. During the same quarter in the previous year, the company posted ($0.37) EPS. The company had revenue of $730 million for the quarter, compared to analysts’ expectations of $903.27 million. The business’s quarterly revenue was down 52.3% on a year-over-year basis. On average, equities research analysts expect that Marathon Oil Corp. will post ($1.01) earnings per share for the current year.
A number of hedge funds have added to or reduced their stakes in MRO. BP PLC acquired a new stake in Marathon Oil Corp. during the fourth quarter worth $1,006,000. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake 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. Andra AP fonden raised 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 worth $2,289,000 after buying an additional 14,400 shares during the last quarter. Suntrust Banks Inc. raised its stake in Marathon Oil Corp. by 43.2% in the fourth quarter. Suntrust Banks Inc. now owns 209,973 shares of the company’s stock worth $2,642,000 after buying an additional 63,389 shares during the last quarter. Finally, Twin Capital Management Inc. raised its stake in Marathon Oil Corp. by 225.7% in the fourth quarter. Twin Capital Management Inc. now owns 218,830 shares of the company’s stock worth $2,755,000 after buying an additional 151,640 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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