Scotiabank Boosts Marathon Oil (NYSE:MRO) Price Target to $28.00

Marathon Oil (NYSE:MRO) had its price target boosted by Scotiabank from $27.61 to $28.00 in a research report released on Thursday, Benzinga reports. Scotiabank currently has a sector perform rating on the oil and gas producer’s stock.

A number of other equities analysts have also commented on the stock. UBS Group cut their price objective on shares of Marathon Oil from $30.00 to $28.00 and set a neutral rating on the stock in a report on Wednesday, September 18th. Barclays cut their price target on Marathon Oil from $35.00 to $34.00 and set an overweight rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company lowered their price objective on Marathon Oil from $29.00 to $27.00 and set an equal weight rating for the company in a research note on Tuesday, October 1st. StockNews.com initiated coverage on Marathon Oil in a report on Sunday, October 6th. They set a buy rating on the stock. Finally, Piper Sandler increased their target price on 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Oil presently has an average rating of Moderate Buy and a consensus target price of $31.12.

Marathon Oil Price Performance

MRO stock opened at $28.06 on Thursday. The firm has a market cap of $15.70 billion, a P/E ratio of 10.92 and a beta of 2.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.57. Marathon Oil has a 1 year low of $21.81 and a 1 year high of $30.06. The stock has a 50-day simple moving average of $27.55 and a 200-day simple moving average of $27.74.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (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 firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the business earned $0.48 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, equities analysts predict that Marathon Oil will post 2.53 earnings per share for the current fiscal year.

Marathon Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Oil’s dividend payout ratio is presently 17.12%.

Insider Buying and Selling

In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction that occurred 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 transaction, the insider now directly owns 100,000 shares in the company, valued at $2,750,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Dane E. Whitehead sold 52,008 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction on 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. 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 owned by company insiders.

Institutional Trading of Marathon Oil

Large investors have recently modified their holdings of the company. HWG Holdings LP bought a new position in Marathon Oil in the 2nd quarter worth about $26,000. Riverview Trust Co bought a new position in Marathon Oil in the 1st quarter worth approximately $27,000. Benjamin Edwards Inc. increased its position in Marathon Oil by 226.0% in the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 678 shares during the period. Founders Capital Management increased its position in Marathon Oil by 100.0% in the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 500 shares during the period. Finally, Highbridge Capital Management LLC bought a new stake in Marathon Oil during the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Company Profile

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.