Marathon Oil (NYSE:MRO) Announces Earnings Results

Marathon Oil (NYSE:MRO) announced its quarterly earnings results on Wednesday. The oil and gas producer reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01, Briefing.com reports. Marathon Oil had a return on equity of 12.87% and a net margin of 19.73%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis.

Marathon Oil Price Performance

MRO stock opened at $28.50 on Friday. Marathon Oil has a 1 year low of $21.81 and a 1 year high of $30.06. The stock has a market capitalization of $15.94 billion, a PE ratio of 12.23 and a beta of 2.16. The company’s 50-day moving average is $27.25 and its 200-day moving average is $27.53. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.54%. Marathon Oil’s dividend payout ratio is currently 18.88%.

Insider Buying and Selling

In other news, insider Dane E. Whitehead sold 52,008 shares of the company’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 $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil 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 transaction, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on MRO. Barclays cut their target price on shares of Marathon Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price target on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. StockNews.com initiated coverage on Marathon Oil in a report on Thursday. They issued a “buy” rating for the company. Truist Financial cut their target price on Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Citigroup lowered their price objective on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.12.

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.