Marathon Oil (NYSE:MRO) PT Lowered to $37.00 at Susquehanna

Marathon Oil (NYSE:MRO) had its price target reduced by Susquehanna from $39.00 to $37.00 in a research note released on Wednesday morning, Benzinga reports. Susquehanna currently has a positive rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued research reports about the company. UBS Group cut their price objective on Marathon Oil from $32.00 to $30.00 and set a neutral rating on the stock in a report on Tuesday, August 13th. Piper Sandler increased their price objective on Marathon Oil from $34.00 to $37.00 and gave the company an overweight rating in a report on Thursday, August 15th. Wells Fargo & Company reissued an equal weight rating and issued a $29.00 price target (down previously from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. Scotiabank reduced their target price on Marathon Oil from $29.00 to $27.61 and set a sector perform rating on the stock in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. restated a neutral rating and set a $33.00 price target on shares of Marathon Oil in a report on Wednesday, July 17th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $32.03.

Marathon Oil Stock Performance

NYSE:MRO opened at $26.72 on Wednesday. Marathon Oil has a twelve month low of $21.81 and a twelve month high of $30.06. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The stock’s 50-day simple moving average is $27.99 and its 200 day simple moving average is $27.39. The firm has a market capitalization of $15.07 billion, a PE ratio of 11.04 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share. On average, analysts anticipate that Marathon Oil will post 2.76 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.44 annualized dividend and a dividend yield of 1.65%. Marathon Oil’s dividend payout ratio is 18.18%.

Hedge Funds Weigh In On Marathon Oil

A number of large investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in shares of Marathon Oil in the second quarter valued at $1,413,000. Cetera Investment Advisers boosted its stake in Marathon Oil by 15.7% during the 2nd quarter. Cetera Investment Advisers now owns 144,674 shares of the oil and gas producer’s stock valued at $4,148,000 after purchasing an additional 19,592 shares during the last quarter. HWG Holdings LP bought a new stake in Marathon Oil during the 2nd quarter worth approximately $26,000. EP Wealth Advisors LLC purchased a new stake in shares of Marathon Oil in the second quarter worth approximately $229,000. Finally, Quarry LP lifted its holdings in shares of Marathon Oil by 113.8% in the second quarter. Quarry LP now owns 113,007 shares of the oil and gas producer’s stock valued at $3,240,000 after purchasing an additional 60,146 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors.

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.