Marathon Oil Corp. (MRO) Stock Price Down 2.3%
Marathon Oil Corp. (NYSE:MRO)’s share price traded down 2.3% on Tuesday . The stock traded as low as $15.62 and last traded at $15.63, with a volume of 8,000,172 shares changing hands. The stock had previously closed at $15.99.
Several research firms recently commented on MRO. Capital One Financial Corp. upgraded Marathon Oil Corp. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $15.00 to $17.00 in a report on Tuesday, June 21st. Bank of America Corp. upgraded Marathon Oil Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.90 to $21.00 in a report on Tuesday, August 16th. Royal Bank Of Canada lifted their price objective 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. 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. Finally, Zacks Investment Research upgraded Marathon Oil Corp. from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $18.04.
The stock’s 50-day moving average price is $14.74 and its 200-day moving average price is $12.87. The firm’s market capitalization is $12.71 billion.
Marathon Oil Corp. (NYSE:MRO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.05. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.12 billion. The firm’s quarterly revenue was down 15.0% on a year-over-year basis. During the same period last year, the firm earned ($0.23) earnings per share. On average, equities analysts expect that Marathon Oil Corp. will post ($0.96) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, August 15th.
A hedge fund recently raised its stake in Marathon Oil Corp. stock. Principal Financial Group Inc. raised its position in Marathon Oil Corp. (NYSE:MRO) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 999,820 shares of the company’s stock after buying an additional 51,475 shares during the period. Principal Financial Group Inc. owned about 0.15% of Marathon Oil Corp. worth $12,587,000 at the end of the most recent 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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