Q3 EPS Estimates for Marathon Oil Reduced by Zacks Research

Marathon Oil Co. (NYSE:MRO - Free Report) - Equities research analysts at Zacks Research cut their Q3 2024 EPS estimates for shares of Marathon Oil in a research note issued to investors on Tuesday, October 29th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas producer will earn $0.62 per share for the quarter, down from their prior estimate of $0.70. The consensus estimate for Marathon Oil's current full-year earnings is $2.43 per share. Zacks Research also issued estimates for Marathon Oil's Q4 2024 earnings at $0.57 EPS, FY2024 earnings at $2.37 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.58 EPS, FY2025 earnings at $2.34 EPS, Q1 2026 earnings at $0.41 EPS, Q2 2026 earnings at $0.45 EPS, Q3 2026 earnings at $0.47 EPS and FY2026 earnings at $1.79 EPS.

Several other equities research analysts have also commented on MRO. UBS Group dropped their price target on shares of Marathon Oil from $30.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company lowered 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. Barclays reduced their price target on Marathon Oil from $35.00 to $34.00 and set an "overweight" rating for the company in a research report on Thursday, October 3rd. Scotiabank raised 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, Piper Sandler lifted their price objective on shares of Marathon Oil from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.12.

Marathon Oil Stock Performance

Shares of MRO stock traded up $1.62 during trading hours on Thursday, reaching $27.70. The stock had a trading volume of 13,209,120 shares, compared to its average volume of 8,067,574. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. The firm has a 50-day simple moving average of $27.30 and a 200-day simple moving average of $27.52. The firm has a market capitalization of $15.49 billion, a PE ratio of 10.78 and a beta of 2.16. Marathon Oil has a twelve month low of $21.81 and a twelve month high of $30.06.

Marathon Oil (NYSE:MRO - Get Free Report) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the company posted $0.48 earnings per share. The firm's revenue for the quarter was up 12.8% compared to the same quarter last year.

Institutional Trading of Marathon Oil

Hedge funds and other institutional investors have recently modified their holdings of the company. HWG Holdings LP acquired a new position in Marathon Oil during the second quarter worth $26,000. Founders Capital Management grew 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 worth $29,000 after buying an additional 500 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Marathon Oil during the second quarter valued at approximately $29,000. Grove Bank & Trust increased its holdings in 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 buying an additional 465 shares during the period. Finally, Hilltop National Bank raised its position in Marathon Oil by 89.5% in the second quarter. Hilltop National Bank now owns 1,620 shares of the oil and gas producer's stock worth $46,000 after purchasing an additional 765 shares in the last quarter. 77.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $1,033,980.00. Following the transaction, the vice president now owns 76,828 shares of the company's stock, valued at approximately $2,090,489.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction 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 owns 100,000 shares in the company, valued at $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Henderson sold 38,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $2,090,489.88. The trade was 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 currently owned by company insiders.

Marathon Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.11 per share. 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 17.12%.

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.