Marathon Oil’s (MRO) Equal Weight Rating Reiterated at Wells Fargo & Company (2024)

Wells Fargo & Company reissued their equal weight rating on shares of Marathon Oil (NYSE:MRO – Free Report) in a research report released on Friday, Benzinga reports. Wells Fargo & Company currently has a $29.00 price target on the oil and gas producer’s stock, down from their previous price target of $38.00.

Several other research analysts also recently commented on the company. Morgan Stanley lifted their target price on Marathon Oil from $26.00 to $27.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Stifel Nicolaus cut their target price on Marathon Oil from $39.00 to $36.00 and set a buy rating on the stock in a report on Friday, March 22nd. Piper Sandler lifted their target price on Marathon Oil from $32.00 to $34.00 and gave the stock an overweight rating in a report on Friday, April 19th. UBS Group cut their target price on Marathon Oil from $28.00 to $27.00 and set a neutral rating on the stock in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group lifted their target price on Marathon Oil from $26.50 to $30.00 and gave the stock a neutral rating in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $32.81.

Read Our Latest Research Report on Marathon Oil

Marathon Oil Trading Up 2.7 %

NYSE MRO opened at $28.96 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 0.41. Marathon Oil has a twelve month low of $21.81 and a twelve month high of $30.06. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 11.97 and a beta of 2.22. The business’s fifty day moving average is $27.56 and its 200 day moving average is $25.36.

Marathon Oil (NYSE:MRO – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the business posted $0.67 EPS. Marathon Oil’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Oil will post 2.83 EPS for the current fiscal year.

Marathon Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Tuesday, May 14th. Marathon Oil’s payout ratio is 18.18%.

Insider Activity at Marathon Oil

In related news, insider Patrick Wagner sold 39,969 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $26.89, for a total value of $1,074,766.41. Following the completion of the sale, the insider now directly owns 176,923 shares of the company’s stock, valued at approximately $4,757,459.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Marathon Oil news, VP Michael A. Henderson sold 51,389 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $27.59, for a total transaction of $1,417,822.51. Following the completion of the sale, the vice president now directly owns 114,828 shares of the company’s stock, valued at approximately $3,168,104.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Wagner sold 39,969 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $26.89, for a total value of $1,074,766.41. Following the sale, the insider now directly owns 176,923 shares of the company’s stock, valued at $4,757,459.47. The disclosure for this sale can be found here. Insiders sold 281,332 shares of company stock valued at $7,644,903 in the last three months. Corporate insiders own 0.35% of the company’s stock.

Institutional Trading of Marathon Oil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Marathon Oil by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 75,751,369 shares of the oil and gas producer’s stock worth $2,146,794,000 after purchasing an additional 6,835,604 shares in the last quarter. Invesco Ltd. increased its holdings in Marathon Oil by 51.4% during the 3rd quarter. Invesco Ltd. now owns 27,988,152 shares of the oil and gas producer’s stock worth $748,683,000 after purchasing an additional 9,504,754 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Marathon Oil by 24.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 19,388,560 shares of the oil and gas producer’s stock worth $468,428,000 after purchasing an additional 3,795,020 shares in the last quarter. Morgan Stanley increased its holdings in Marathon Oil by 22.6% during the 3rd quarter. Morgan Stanley now owns 11,797,521 shares of the oil and gas producer’s stock worth $315,584,000 after purchasing an additional 2,176,062 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Marathon Oil by 7.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,186,365 shares of the oil and gas producer’s stock worth $197,801,000 after buying an additional 556,566 shares during the last quarter. 77.24% of the stock is owned by institutional investors.

Marathon Oil Company Profile

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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.