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

StockNews.com initiated coverage on shares of Marathon Oil (NYSE:MRO - Free Report) in a report released on Thursday morning. The firm issued a buy rating on the oil and gas producer's stock.

MRO has been the topic of a number of other research reports. UBS Group reduced their price target on Marathon Oil from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 18th. Piper Sandler raised their price target on Marathon Oil from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Thursday, August 15th. Citigroup cut their price objective on shares of Marathon Oil from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Truist Financial decreased their target price on shares of Marathon Oil from $35.00 to $27.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Finally, Mizuho dropped their target price on shares of Marathon Oil from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Nine 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. According to data from MarketBeat, Marathon Oil currently has a consensus rating of "Moderate Buy" and an average target price of $31.12.

Marathon Oil Stock Performance

Shares of NYSE:MRO traded down $0.26 during trading on Thursday, reaching $28.54. 7,847,290 shares of the stock were exchanged, compared to its average volume of 8,058,048. Marathon Oil has a 12 month low of $21.81 and a 12 month high of $30.06. The stock has a 50-day moving average price of $27.26 and a 200-day moving average price of $27.52. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. The firm has a market cap of $15.96 billion, a PE ratio of 11.11 and a beta of 2.16.

Marathon Oil (NYSE:MRO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company posted $0.77 earnings per share. Marathon Oil's revenue was down 1.2% compared to the same quarter last year. Research analysts expect that Marathon Oil will post 2.41 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 1.54%. Marathon Oil's dividend payout ratio is presently 17.12%.

Insider Activity

In related news, insider Dane E. Whitehead sold 52,008 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 $2,750,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, 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 through the SEC website. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil 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 transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new stake in shares of Marathon Oil during the second quarter worth $26,000. Founders Capital Management boosted its position in Marathon Oil by 100.0% during the second quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer's stock valued at $29,000 after acquiring an additional 500 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Marathon Oil during the 2nd quarter worth about $29,000. Grove Bank & Trust lifted its stake 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 purchasing an additional 465 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Marathon Oil in the 3rd quarter valued at about $36,000. Institutional investors 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.