Marathon Oil Corporation (MRO) Rating Lowered to Neutral at Citigroup Inc.
Citigroup Inc. cut shares of Marathon Oil Corporation (NYSE:MRO) from a buy rating to a neutral rating in a report published on Thursday morning, Marketbeat reports. Citigroup Inc. currently has $14.00 price objective on the oil and gas producer’s stock.
Other equities research analysts also recently issued research reports about the company. KLR Group reissued a buy rating and issued a $23.00 price target (up previously from $21.00) on shares of Marathon Oil Corporation in a report on Wednesday, August 9th. BMO Capital Markets reissued a hold rating and issued a $18.00 price target on shares of Marathon Oil Corporation in a report on Tuesday, November 7th. Scotiabank restated a buy rating and issued a $19.00 price objective on shares of Marathon Oil Corporation in a research note on Thursday, August 3rd. Vetr cut Marathon Oil Corporation from a strong-buy rating to a buy rating and set a $14.22 price objective for the company. in a research note on Monday, August 7th. Finally, Jefferies Group LLC restated a hold rating and issued a $14.00 price objective (up from $13.00) on shares of Marathon Oil Corporation in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. Marathon Oil Corporation presently has an average rating of Hold and an average target price of $17.34.
Shares of Marathon Oil Corporation (NYSE:MRO) traded down $0.16 during midday trading on Thursday, reaching $15.62. The company’s stock had a trading volume of 11,447,500 shares, compared to its average volume of 13,445,935. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 2.02. Marathon Oil Corporation has a fifty-two week low of $10.55 and a fifty-two week high of $19.28.
Marathon Oil Corporation (NYSE:MRO) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.04 billion. Marathon Oil Corporation had a negative return on equity of 3.02% and a negative net margin of 148.07%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.23) earnings per share. equities analysts anticipate that Marathon Oil Corporation will post -0.4 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Wednesday, November 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Marathon Oil Corporation’s payout ratio is currently -7.81%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Marathon Oil Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock valued at $1,027,132,000 after purchasing an additional 1,808,213 shares during the period. Macquarie Group Ltd. grew its holdings in Marathon Oil Corporation by 1.3% in the third quarter. Macquarie Group Ltd. now owns 54,525,491 shares of the oil and gas producer’s stock valued at $739,367,000 after purchasing an additional 693,366 shares during the period. State Street Corp grew its holdings in Marathon Oil Corporation by 2.8% in the second quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock valued at $593,258,000 after purchasing an additional 1,350,863 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Marathon Oil Corporation by 10.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 41,191,926 shares of the oil and gas producer’s stock valued at $558,563,000 after purchasing an additional 3,767,268 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Marathon Oil Corporation by 0.5% in the second quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock valued at $418,709,000 after purchasing an additional 172,691 shares during the period. 79.45% of the stock is currently owned by institutional investors.
About Marathon Oil Corporation
Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America 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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