Marathon Oil Corp. (MRO) Stock Price Down 7.3%
Marathon Oil Corp. (NYSE:MRO)’s share price traded down 7.3% during mid-day trading on Monday . The company traded as low as $15.50 and last traded at $15.58, with a volume of 17,560,417 shares trading hands. The stock had previously closed at $16.80.
A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a “hold” rating on shares of Marathon Oil Corp. in a research note on Saturday, July 9th. Piper Jaffray Cos. upgraded shares of Marathon Oil Corp. from a “neutral” rating to an “overweight” rating and set a $16.00 target price for the company in a research note on Tuesday, May 31st. Jefferies Group restated a “buy” rating and issued a $17.00 target price (up from $16.00) on shares of Marathon Oil Corp. in a research note on Monday, July 11th. Simmons upgraded shares of Marathon Oil Corp. from a “neutral” rating to an “overweight” rating and raised their target price for the company from $14.00 to $16.00 in a research note on Tuesday, May 31st. Finally, Bank of America Corp. began coverage on shares of Marathon Oil Corp. in a research note on Tuesday, June 21st. They issued a “hold” rating for the company. One 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 stock. Marathon Oil Corp. has a consensus rating of “Buy” and an average price target of $17.76.
The company’s market cap is $13.84 billion. The stock’s 50 day moving average is $14.60 and its 200 day moving average is $12.55.
Marathon Oil Corp. (NYSE:MRO) last released 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. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.12 billion. Marathon Oil Corp.’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.23) earnings per share. Equities research analysts forecast that Marathon Oil Corp. will post ($0.95) EPS 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 given a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.22%.
Several large investors recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Marathon Oil Corp. during the fourth quarter valued at about $1,953,000. American International Group Inc. boosted its stake 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 valued at $5,276,000 after buying an additional 9,280 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake 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 valued at $12,587,000 after buying an additional 51,475 shares in 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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