Capital One Financial Comments on Marathon Oil Co.’s Q3 2024 Earnings (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO) – Research analysts at Capital One Financial cut their Q3 2024 earnings estimates for shares of Marathon Oil in a note issued to investors on Tuesday, September 17th. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will earn $0.59 per share for the quarter, down from their prior estimate of $0.74. Capital One Financial has a “Hold” rating on the stock. The consensus estimate for Marathon Oil’s current full-year earnings is $2.70 per share. Capital One Financial also issued estimates for Marathon Oil’s Q4 2024 earnings at $0.49 EPS, FY2024 earnings at $2.27 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $1.62 EPS and FY2026 earnings at $1.98 EPS.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the business posted $0.48 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year.

Other analysts also recently issued research reports about the stock. Citigroup decreased their price objective on shares of Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company restated an “equal weight” rating and set a $29.00 price target (down previously from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. Susquehanna dropped their price objective on Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. decreased their target price on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, Mizuho lowered their target price on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Nine investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.65.

Marathon Oil Trading Up 0.1 %

Shares of Marathon Oil stock opened at $27.93 on Friday. The stock has a fifty day moving average price of $27.67 and a 200-day moving average price of $27.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. The firm has a market cap of $15.75 billion, a PE ratio of 11.54 and a beta of 2.16. Marathon Oil has a 1 year low of $21.81 and a 1 year high of $30.06.

Institutional Trading of Marathon Oil

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gryphon Financial Partners LLC raised its holdings in Marathon Oil by 53.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 17,497 shares of the oil and gas producer’s stock valued at $423,000 after buying an additional 6,066 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Marathon Oil during the fourth quarter worth about $53,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Marathon Oil by 8.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,129 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 1,052 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in Marathon Oil by 21.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 15,976 shares of the oil and gas producer’s stock valued at $386,000 after purchasing an additional 2,875 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Marathon Oil by 33.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 49,630 shares of the oil and gas producer’s stock valued at $1,199,000 after purchasing an additional 12,413 shares during the last quarter. Institutional investors own 77.24% of the company’s stock.

Insider Buying and Selling

In other Marathon Oil news, insider Dane E. Whitehead sold 52,008 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were 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 of the company’s stock, valued at approximately $2,750,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $27.21, for a total value of $1,033,980.00. Following the transaction, the vice president now directly owns 76,828 shares in the company, valued at $2,090,489.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the insider now owns 100,000 shares in the company, valued at $2,750,000. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Marathon Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 annualized dividend and a yield of 1.58%. Marathon Oil’s dividend payout ratio is currently 18.18%.

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.