Marathon Oil Corporation (MRO) Price Target Raised to $13.00 at Barclays PLC
Marathon Oil Corporation (NYSE:MRO) had its price target boosted by stock analysts at Barclays PLC from $11.00 to $13.00 in a note issued to investors on Wednesday. The firm presently has an “equal weight” rating on the oil and gas producer’s stock. Barclays PLC’s target price would indicate a potential downside of 4.55% from the stock’s previous close.
Several other research analysts have also weighed in on the company. Piper Jaffray Companies set a $20.00 target price on Marathon Oil Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Citigroup Inc. raised Marathon Oil Corporation from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $19.00 to $15.00 in a report on Wednesday, July 5th. Stephens began coverage on Marathon Oil Corporation in a report on Wednesday, July 12th. They set an “equal weight” rating and a $14.00 price objective on the stock. Jefferies Group LLC set a $12.00 price objective on Marathon Oil Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Finally, BidaskClub lowered Marathon Oil Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $17.06.
Marathon Oil Corporation (NYSE MRO) traded up 0.07% during trading on Wednesday, reaching $13.63. The company had a trading volume of 4,065,431 shares. Marathon Oil Corporation has a 12 month low of $10.55 and a 12 month high of $19.28. The stock has a 50 day moving average of $12.27 and a 200-day moving average of $13.06. The company’s market capitalization is $11.58 billion.
Marathon Oil Corporation (NYSE:MRO) last issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned ($0.23) earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts expect that Marathon Oil Corporation will post ($0.46) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in MRO. BlackRock Inc. lifted its position in shares of Marathon Oil Corporation by 4,827.5% in the 1st quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock worth $1,693,396,000 after acquiring an additional 105,001,815 shares during the period. Vanguard Group Inc. lifted its position in shares of Marathon Oil Corporation by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock worth $1,027,132,000 after acquiring an additional 1,808,213 shares during the period. Macquarie Group Ltd. lifted its position in shares of Marathon Oil Corporation by 112.6% in the 2nd quarter. Macquarie Group Ltd. now owns 53,832,125 shares of the oil and gas producer’s stock worth $637,911,000 after acquiring an additional 28,514,387 shares during the period. State Street Corp lifted its position in shares of Marathon Oil Corporation by 2.8% in the 2nd quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock worth $593,258,000 after acquiring an additional 1,350,863 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Marathon Oil Corporation by 0.5% in the 2nd quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock worth $418,709,000 after acquiring an additional 172,691 shares during the period. Hedge funds and other institutional investors own 80.98% of the company’s stock.
About Marathon Oil Corporation
Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America 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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