Marathon Oil (NYSE:MRO) Price Target Raised to $27.00

Marathon Oil (NYSE:MRO) had its price objective increased by Morgan Stanley from $26.00 to $27.00 in a research report sent to investors on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reduced their price target on shares of Marathon Oil from $34.00 to $32.00 and set an overweight rating for the company in a research report on Wednesday, January 24th. Barclays began coverage on shares of Marathon Oil in a report on Wednesday, April 10th. They issued an overweight rating and a $35.00 target price on the stock. UBS Group dropped their price target on shares of Marathon Oil from $28.00 to $27.00 and set a neutral rating on the stock in a research note on Wednesday, March 6th. Scotiabank lifted their price target on shares of Marathon Oil from $35.00 to $45.00 and gave the stock a sector outperform rating in a research note on Thursday, April 11th. Finally, Benchmark lifted their price target on shares of Marathon Oil from $25.00 to $32.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $32.66.

Marathon Oil Price Performance

Shares of NYSE MRO opened at $27.68 on Monday. Marathon Oil has a fifty-two week low of $21.63 and a fifty-two week high of $30.06. The company has a 50 day simple moving average of $26.04 and a two-hundred day simple moving average of $25.32. The company has a market capitalization of $15.82 billion, a price-to-earnings ratio of 10.81 and a beta of 2.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.40.

Marathon Oil (NYSE:MRO) last announced its earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. Analysts expect that Marathon Oil will post 2.62 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.59%. Marathon Oil’s dividend payout ratio (DPR) is presently 17.19%.

Insider Transactions at Marathon Oil

In related news, insider Patrick Wagner sold 36,094 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total transaction of $997,999.10. Following the transaction, the insider now directly owns 140,829 shares in the company, valued at approximately $3,893,921.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Patrick Wagner sold 36,094 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $27.65, for a total transaction of $997,999.10. Following the transaction, the insider now directly owns 140,829 shares in the company, valued at approximately $3,893,921.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lee M. Tillman sold 80,647 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total transaction of $2,172,630.18. Following the transaction, the chief executive officer now owns 596,330 shares in the company, valued at $16,065,130.20. 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 in the last three months. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Marathon Oil

Several large investors have recently added to or reduced their stakes in MRO. ICA Group Wealth Management LLC lifted its position in shares of Marathon Oil by 92.6% in the 1st quarter. ICA Group Wealth Management LLC now owns 1,086 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 522 shares during the period. Smithfield Trust Co increased its stake in shares of Marathon Oil by 367.9% in the third quarter. Smithfield Trust Co now owns 1,020 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 802 shares during the period. NBC Securities Inc. acquired a new stake in shares of Marathon Oil in the third quarter worth $27,000. Riverview Trust Co purchased a new stake in Marathon Oil during the first quarter worth $27,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in Marathon Oil during the third quarter worth $29,000. 77.24% of the stock is owned by hedge funds and other 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.