Capital One Financial Comments on Marathon Oil Co.’s Q1 2024 Earnings (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO) – Analysts at Capital One Financial lowered their Q1 2024 earnings estimates for shares of Marathon Oil in a note issued to investors on Thursday, April 11th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will post earnings per share of $0.46 for the quarter, down from their previous forecast of $0.52. The consensus estimate for Marathon Oil’s current full-year earnings is $2.62 per share. Capital One Financial also issued estimates for Marathon Oil’s Q2 2024 earnings at $0.69 EPS, Q3 2024 earnings at $0.77 EPS, Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $2.74 EPS and FY2025 earnings at $3.11 EPS.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS.

Other equities analysts have also recently issued reports about the stock. Benchmark raised their target price on shares of Marathon Oil from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. The Goldman Sachs Group raised their target price on shares of Marathon Oil from $26.50 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Morgan Stanley raised their target price on shares of Marathon Oil from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday. Raymond James decreased their target price on shares of Marathon Oil from $35.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, Truist Financial raised their target price on shares of Marathon Oil from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.66.

Marathon Oil Price Performance

Shares of MRO opened at $28.35 on Monday. The stock has a market capitalization of $16.20 billion, a P/E ratio of 11.07 and a beta of 2.22. Marathon Oil has a twelve month low of $21.63 and a twelve month high of $30.06. The company has a 50 day moving average of $25.94 and a 200-day moving average of $25.31. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 0.30.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, February 20th. Marathon Oil’s dividend payout ratio is presently 17.19%.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of Marathon Oil stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total value of $997,999.10. Following the transaction, the insider now owns 140,829 shares in the company, valued at $3,893,921.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of Marathon Oil stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total value of $997,999.10. Following the transaction, the insider now owns 140,829 shares in the company, valued at $3,893,921.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Henderson sold 51,389 shares of Marathon Oil stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $27.59, for a total value of $1,417,822.51. Following the completion of the transaction, the vice president now owns 114,828 shares in the company, valued at approximately $3,168,104.52. The disclosure for this sale can be found here. Insiders have sold a total of 281,332 shares of company stock worth $7,644,903 over the last 90 days. Insiders own 0.42% of the company’s stock.

Institutional Trading of Marathon Oil

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC grew its holdings in shares of Marathon Oil by 4.8% during the first quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer’s stock worth $257,000 after purchasing an additional 415 shares during the last quarter. Wahed Invest LLC grew its holdings in shares of Marathon Oil by 4.2% during the fourth quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer’s stock worth $249,000 after purchasing an additional 419 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Marathon Oil by 1.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 26,569 shares of the oil and gas producer’s stock worth $711,000 after purchasing an additional 421 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Marathon Oil by 1.2% during the fourth quarter. Profund Advisors LLC now owns 37,228 shares of the oil and gas producer’s stock worth $899,000 after purchasing an additional 451 shares during the last quarter. Finally, Venture Visionary Partners LLC grew its holdings in shares of Marathon Oil by 4.1% during the fourth quarter. Venture Visionary Partners LLC now owns 11,523 shares of the oil and gas producer’s stock worth $278,000 after purchasing an additional 458 shares during the last quarter. 77.24% of the stock is currently owned by institutional investors.

About Marathon Oil

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