StockNews.com Begins Coverage on Marathon Oil (NYSE:MRO)

StockNews.com initiated coverage on shares of Marathon Oil (NYSE:MRO) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating on the oil and gas producer’s stock.

Other analysts have also recently issued reports about the stock. Barclays lowered their target price on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Piper Sandler upped their target price on Marathon Oil from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company reduced their target price on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Scotiabank lifted their price target on Marathon Oil from $27.61 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. Finally, UBS Group cut their price objective on shares of Marathon Oil from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.12.

Marathon Oil Stock Down 0.9 %

Shares of NYSE:MRO opened at $25.88 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $14.48 billion, a P/E ratio of 10.07 and a beta of 2.16. Marathon Oil has a 52-week low of $21.81 and a 52-week high of $30.06. The stock’s fifty day simple moving average is $27.34 and its 200-day simple moving average is $27.53.

Marathon Oil (NYSE:MRO) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. Marathon Oil’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. As a group, equities research analysts forecast that Marathon Oil will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the sale, the vice president now directly owns 76,828 shares in the company, valued at $2,090,489.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dane E. Whitehead sold 52,008 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at approximately $2,750,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Marathon Oil

Hedge funds have recently bought and sold shares of the business. HWG Holdings LP acquired a new position in Marathon Oil during the 2nd quarter worth $26,000. Founders Capital Management grew its stake in Marathon Oil by 100.0% in the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 500 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Marathon Oil in the second quarter valued at about $29,000. Grove Bank & Trust raised its stake in Marathon Oil by 77.4% during the second quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 465 shares in the last quarter. Finally, Hilltop National Bank lifted its holdings in Marathon Oil by 89.5% during the 2nd quarter. Hilltop National Bank now owns 1,620 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 765 shares during the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.

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.