Marathon Oil Co. (NYSE:MRO) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 27,660,000 shares, a drop of 20.2% from the August 15th total of 34,680,000 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily volume of 16,010,000 shares, the short-interest ratio is presently 1.7 days.
Shares of MRO stock opened at $12.02 on Thursday. The stock’s 50 day simple moving average is $11.67 and its 200 day simple moving average is $11.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.27 and a current ratio of 1.32. Marathon Oil has a twelve month low of $3.73 and a twelve month high of $14.33. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of -17.42, a PEG ratio of 0.31 and a beta of 3.28.
Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Tuesday, August 3rd. The oil and gas producer reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. Marathon Oil had a positive return on equity of 0.21% and a negative net margin of 14.27%. The company’s revenue for the quarter was up 320.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.60) EPS. On average, analysts forecast that Marathon Oil will post 1.01 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. HBK Investments L P bought a new position in Marathon Oil in the 2nd quarter worth approximately $303,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Marathon Oil during the second quarter valued at approximately $2,047,000. Mariner LLC increased its position in shares of Marathon Oil by 8.7% during the second quarter. Mariner LLC now owns 139,596 shares of the oil and gas producer’s stock valued at $1,901,000 after purchasing an additional 11,132 shares during the period. Morgan Stanley boosted its stake in Marathon Oil by 22.8% in the 2nd quarter. Morgan Stanley now owns 4,584,777 shares of the oil and gas producer’s stock valued at $62,444,000 after buying an additional 851,968 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Marathon Oil by 66.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 914,540 shares of the oil and gas producer’s stock valued at $12,456,000 after buying an additional 364,994 shares in the last quarter. 70.85% of the stock is currently owned by institutional investors.
A number of equities analysts recently weighed in on the company. Royal Bank of Canada raised Marathon Oil from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $14.00 to $18.00 in a research note on Thursday, June 10th. Raymond James dropped their price target on Marathon Oil from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, August 24th. Barclays lifted their price target on Marathon Oil from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, June 3rd. Citigroup lifted their price target on Marathon Oil from $12.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 13th. Finally, Bank of America raised Marathon Oil from an “underperform” rating to a “neutral” rating in a research note on Monday, June 21st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $15.27.
About Marathon Oil
Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S.
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