Marathon Oil Corp. (MRO) Shares Down 7.3%
Marathon Oil Corp. (NYSE:MRO) shares fell 7.3% on Monday . The stock traded as low as $15.50 and last traded at $15.58, with a volume of 17,560,417 shares traded. The stock had previously closed at $16.80.
Several research firms have weighed in on MRO. Capital One Financial Corp. upgraded Marathon Oil Corp. from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $15.00 to $17.00 in a research report on Tuesday, June 21st. Bank of America Corp. raised Marathon Oil Corp. from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.90 to $21.00 in a report on Tuesday, August 16th. Royal Bank Of Canada increased their target price on 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 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 equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $17.76.
The firm’s market capitalization is $13.25 billion. The firm has a 50 day moving average price of $14.55 and a 200 day moving average price of $12.40.
Marathon Oil Corp. (NYSE:MRO) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.05. The firm earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Marathon Oil Corp.’s revenue for the quarter was down 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Analysts anticipate that Marathon Oil Corp. will post ($0.95) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders 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 1.28%. The ex-dividend date of this dividend is Monday, August 15th.
Several institutional investors have recently bought and sold shares of MRO. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted 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. American International Group Inc. boosted 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. Principal Financial Group Inc. boosted its position in 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. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Marathon Oil Corp. during the fourth quarter worth about $1,953,000.
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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