Marathon Oil (MRO) Rating Increased to Outperform at Wells Fargo & Co

Wells Fargo & Co upgraded shares of Marathon Oil (NYSE:MRO) from a market perform rating to an outperform rating in a report released on Tuesday, Marketbeat reports.

Several other equities research analysts have also commented on MRO. Zacks Investment Research upgraded shares of Marathon Oil from a hold rating to a strong-buy rating and set a $24.00 price target for the company in a report on Wednesday, July 4th. ValuEngine lowered shares of Marathon Oil from a buy rating to a hold rating in a report on Thursday, July 5th. BMO Capital Markets restated a hold rating and issued a $23.00 price target on shares of Marathon Oil in a report on Tuesday, July 10th. Morgan Stanley initiated coverage on shares of Marathon Oil in a report on Thursday, July 12th. They issued an equal weight rating and a $23.00 price target for the company. Finally, Mizuho initiated coverage on shares of Marathon Oil in a report on Monday, July 23rd. They issued a neutral rating and a $28.00 price target for the company. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $23.36.

Shares of MRO opened at $18.69 on Tuesday. Marathon Oil has a 1-year low of $13.39 and a 1-year high of $24.20. The stock has a market cap of $16.05 billion, a P/E ratio of -49.18, a P/E/G ratio of 1.56 and a beta of 2.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.51 and a quick ratio of 1.45.



Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.06). Marathon Oil had a negative net margin of 3.03% and a positive return on equity of 2.25%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm posted ($0.24) EPS. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. Research analysts forecast that Marathon Oil will post 0.76 EPS for the current fiscal year.

In other news, VP Thomas Mitchell Little sold 117,333 shares of Marathon Oil stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $20.69, for a total value of $2,427,619.77. Following the transaction, the vice president now owns 394,569 shares of the company’s stock, valued at approximately $8,163,632.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of MRO. Boston Partners grew its position in shares of Marathon Oil by 474.2% in the 2nd quarter. Boston Partners now owns 20,245,111 shares of the oil and gas producer’s stock worth $422,312,000 after buying an additional 16,719,492 shares during the last quarter. Standard Life Aberdeen plc grew its position in Marathon Oil by 1,230.2% during the 2nd quarter. Standard Life Aberdeen plc now owns 4,995,164 shares of the oil and gas producer’s stock worth $104,224,000 after purchasing an additional 4,619,642 shares during the last quarter. Renaissance Technologies LLC grew its position in Marathon Oil by 771.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,720,646 shares of the oil and gas producer’s stock worth $98,473,000 after purchasing an additional 4,178,700 shares during the last quarter. Hexavest Inc. grew its position in Marathon Oil by 21,619.1% during the 2nd quarter. Hexavest Inc. now owns 3,283,058 shares of the oil and gas producer’s stock worth $68,485,000 after purchasing an additional 3,267,942 shares during the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC purchased a new stake in Marathon Oil during the 2nd quarter worth approximately $47,059,000. 80.18% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Oil

Marathon Oil Corporation operates as an energy company in the United States, Equatorial Guinea, the United Kingdom, and Libya. It operates in two segments, United States E&P and International E&P. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

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Analyst Recommendations for Marathon Oil (NYSE:MRO)

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