$2.06 Billion in Sales Expected for Marathon Oil Co. (NYSE:MRO) This Quarter

Wall Street analysts expect that Marathon Oil Co. (NYSE:MROGet Rating) will post sales of $2.06 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Marathon Oil’s earnings, with estimates ranging from $1.81 billion to $2.36 billion. Marathon Oil reported sales of $1.14 billion in the same quarter last year, which indicates a positive year over year growth rate of 80.7%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Marathon Oil will report full-year sales of $8.00 billion for the current year, with estimates ranging from $7.05 billion to $9.34 billion. For the next financial year, analysts anticipate that the business will report sales of $7.46 billion, with estimates ranging from $6.86 billion to $9.22 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Marathon Oil.

Marathon Oil (NYSE:MROGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The oil and gas producer reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.04. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Marathon Oil had a net margin of 35.01% and a return on equity of 16.78%. The firm’s quarterly revenue was up 63.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS.

Several equities analysts have issued reports on MRO shares. Zacks Investment Research upgraded shares of Marathon Oil from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research report on Monday, February 7th. Raymond James upped their price target on shares of Marathon Oil from $31.00 to $40.00 and gave the company a “strong-buy” rating in a research report on Monday, April 25th. Susquehanna upgraded shares of Marathon Oil from a “neutral” rating to a “positive” rating and set a $32.00 price target for the company in a research report on Monday, April 25th. Truist Financial upped their price target on shares of Marathon Oil from $34.00 to $41.00 in a research report on Thursday, April 21st. Finally, Credit Suisse Group upped their price target on shares of Marathon Oil from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, February 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Oil presently has an average rating of “Buy” and a consensus target price of $30.06.

In related news, CAO Rob L. White sold 8,700 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $23.00, for a total transaction of $200,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Henderson sold 27,174 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $24.11, for a total transaction of $655,165.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,290,067 shares of company stock worth $32,798,479. Corporate insiders own 0.52% of the company’s stock.

Large investors have recently modified their holdings of the business. Washington Trust Advisors Inc. bought a new position in shares of Marathon Oil in the first quarter valued at approximately $25,000. Richwood Investment Advisors LLC bought a new position in shares of Marathon Oil in the fourth quarter valued at approximately $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Marathon Oil in the third quarter valued at approximately $27,000. Zullo Investment Group Inc. bought a new position in shares of Marathon Oil in the first quarter valued at approximately $30,000. Finally, Tsfg LLC bought a new position in shares of Marathon Oil in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 79.19% of the company’s stock.

MRO stock traded up $0.38 during trading on Monday, reaching $27.26. 19,134,849 shares of the company were exchanged, compared to its average volume of 21,333,116. The company has a 50-day moving average of $25.53 and a two-hundred day moving average of $21.00. The company has a market capitalization of $19.29 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 0.39 and a beta of 2.58. Marathon Oil has a twelve month low of $10.41 and a twelve month high of $29.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.10 and a quick ratio of 1.06.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Wednesday, May 18th will be issued a dividend of $0.08 per share. This is an increase from Marathon Oil’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, May 17th. This represents a $0.32 annualized dividend and a yield of 1.17%. Marathon Oil’s dividend payout ratio is presently 11.15%.

About Marathon Oil (Get Rating)

Marathon Oil Corporation operates as an independent exploration and production company in the United States and internationally. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

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Earnings History and Estimates for Marathon Oil (NYSE:MRO)

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