Marathon Oil Corp. (MRO) Downgraded by Vetr Inc. to Sell
Vetr cut shares of Marathon Oil Corp. (NYSE:MRO) from a buy rating to a sell rating in a report published on Wednesday. The brokerage currently has $16.75 price objective on the stock.
Several other brokerages have also recently issued reports on MRO. Credit Suisse Group AG cut Marathon Oil Corp. from an outperform rating to a neutral rating and set a $19.00 target price on the stock. in a report on Monday, September 12th. Bank of America Corp. set a $21.00 price target on Marathon Oil Corp. and gave the stock a buy rating in a research report on Thursday, September 8th. Seaport Global Securities lowered Marathon Oil Corp. from a buy rating to a neutral rating and set a $17.00 price target for the company. in a research report on Tuesday, August 30th. Societe Generale lowered Marathon Oil Corp. from a buy rating to a hold rating in a research report on Friday, September 9th. Finally, Barclays PLC lifted their price target on Marathon Oil Corp. from $16.00 to $18.00 and gave the stock an overweight rating in a research report on Thursday, September 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $17.67.
Marathon Oil Corp. (NYSE:MRO) opened at 18.06 on Wednesday. The company’s market cap is $15.30 billion. Marathon Oil Corp. has a 52-week low of $6.52 and a 52-week high of $18.55. The firm’s 50-day moving average price is $14.78 and its 200-day moving average price is $14.57.
Marathon Oil Corp. (NYSE:MRO) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.09. Marathon Oil Corp. had a negative return on equity of 4.91% and a negative net margin of 32.98%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm posted ($0.20) earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Oil Corp. will post ($0.91) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Monday, November 14th. Marathon Oil Corp.’s payout ratio is presently -9.26%.
Several institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. increased its position in shares of Marathon Oil Corp. by 0.5% in the second quarter. Macquarie Group Ltd. now owns 21,983,380 shares of the company’s stock worth $329,971,000 after buying an additional 110,766 shares during the last quarter. Hermes Investment Management Ltd. increased its position in shares of Marathon Oil Corp. by 15.7% in the second quarter. Hermes Investment Management Ltd. now owns 2,202,572 shares of the company’s stock worth $33,061,000 after buying an additional 298,500 shares during the last quarter. Oxbow Advisors LLC acquired a new position in shares of Marathon Oil Corp. during the second quarter worth about $2,948,000. British Columbia Investment Management Corp increased its position in shares of Marathon Oil Corp. by 11.6% in the second quarter. British Columbia Investment Management Corp now owns 382,468 shares of the company’s stock worth $5,741,000 after buying an additional 39,861 shares during the last quarter. Finally, DG Capital Management Inc. acquired a new position in shares of Marathon Oil Corp. during the second quarter worth about $798,000. 81.77% of the stock is currently owned by institutional investors and hedge funds.
About Marathon Oil Corp.
Marathon Oil Corporation is an exploration and production company with operations in North America, Europe and Africa. The Company operates through three segments: North America E&P (N.A. E&P), International E&P (Int’l E&P), and Oil Sands Mining (OSM). The N.A. E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.
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