Piper Sandler Has Lowered Expectations for Marathon Oil (NYSE:MRO) Stock Price

Marathon Oil (NYSE:MRO) had its price target cut by Piper Sandler from $37.00 to $34.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective points to a potential upside of 18.26% from the company’s current price.

MRO has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their target price on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Scotiabank raised their target price on Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 10th. StockNews.com assumed coverage on Marathon Oil in a research note on Friday, November 15th. They set a “buy” rating for the company. Mizuho lowered their price objective on shares of Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Truist Financial reduced their target price on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.94.

Marathon Oil Trading Down 0.8 %

Marathon Oil stock opened at $28.75 on Monday. Marathon Oil has a one year low of $21.81 and a one year high of $30.06. The business’s fifty day moving average is $27.41 and its 200 day moving average is $27.59. The stock has a market capitalization of $16.08 billion, a PE ratio of 12.34 and a beta of 2.16. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.61.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. On average, sell-side analysts predict that Marathon Oil will post 2.36 EPS for the current year.

Insider Transactions at Marathon Oil

In other Marathon Oil news, CEO Lee M. Tillman sold 256,591 shares of Marathon Oil stock in a transaction on Monday, November 18th. The shares were sold at an average price of $29.07, for a total value of $7,459,100.37. Following the sale, the chief executive officer now directly owns 596,330 shares in the company, valued at approximately $17,335,313.10. The trade was a 30.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the transaction, the vice president now directly owns 76,828 shares of the company’s stock, valued at $2,090,489.88. This trade represents a 33.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 346,599 shares of company stock valued at $9,923,300. 0.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Oil

A number of large investors have recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in shares of Marathon Oil in the second quarter valued at $26,000. Founders Capital Management increased its holdings in shares of Marathon Oil by 100.0% in the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 500 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Marathon Oil during the 2nd quarter valued at about $29,000. Grove Bank & Trust lifted its holdings in shares of Marathon Oil by 77.4% in the 2nd quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Marathon Oil in the third quarter worth about $36,000. Institutional investors own 77.24% of the company’s stock.

Marathon Oil Company Profile

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.