Marathon Oil Corp. (MRO) Trading Up 5.6%
Marathon Oil Corp. (NYSE:MRO) shares were up 5.6% during mid-day trading on Tuesday . The stock traded as high as $16.54 and last traded at $16.51, with a volume of 18,967,747 shares traded. The stock had previously closed at $15.64.
Several research analysts have recently issued reports on MRO shares. Bank of America Corp. raised Marathon Oil Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.90 to $21.00 in a research note on Tuesday, August 16th. Simmons reaffirmed an “overweight” rating on shares of Marathon Oil Corp. in a research note on Thursday, August 11th. Citigroup Inc. raised Marathon Oil Corp. to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Thursday, July 7th. Raymond James Financial Inc. raised Marathon Oil Corp. from an “outperform” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Thursday, July 7th. Finally, Royal Bank Of Canada lifted their price target on Marathon Oil Corp. from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Friday, July 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. Marathon Oil Corp. has an average rating of “Buy” and an average target price of $17.76.
The company’s market capitalization is $13.61 billion. The firm has a 50-day moving average price of $14.64 and a 200-day moving average price of $12.57.
Marathon Oil Corp. (NYSE:MRO) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.05. During the same period in the prior year, the company posted ($0.23) earnings per share. The business earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.12 billion. The firm’s revenue was down 15.0% on a year-over-year basis. On average, equities analysts forecast that Marathon Oil Corp. will post ($0.97) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.25%. The ex-dividend date is Monday, August 15th.
A number of large investors have made changes to their positions in MRO. Principal Financial Group Inc. increased its stake in shares of 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. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Marathon Oil Corp. during the fourth quarter valued at about $1,953,000. Finally, American International Group Inc. increased its stake in shares of 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.
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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