Q2 2024 EPS Estimates for Marathon Oil Co. (NYSE:MRO) Boosted by Zacks Research

Marathon Oil Co. (NYSE:MRO) – Equities researchers at Zacks Research raised their Q2 2024 earnings estimates for shares of Marathon Oil in a research report issued to clients and investors on Wednesday, April 17th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas producer will earn $0.60 per share for the quarter, up from their previous forecast of $0.57. The consensus estimate for Marathon Oil’s current full-year earnings is $2.73 per share. Zacks Research also issued estimates for Marathon Oil’s Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $0.71 EPS, FY2024 earnings at $2.46 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.72 EPS, FY2025 earnings at $2.83 EPS and FY2026 earnings at $2.73 EPS.

Several other research firms have also issued reports on MRO. Truist Financial increased their price target on shares of Marathon Oil from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Barclays began coverage on Marathon Oil in a report on Wednesday, April 10th. They issued an “overweight” rating and a $35.00 target price for the company. Piper Sandler boosted their price target on Marathon Oil from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley increased their price objective on Marathon Oil from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, UBS Group reduced their target price on shares of Marathon Oil from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.76.

Marathon Oil Stock Up 0.4 %

MRO opened at $27.50 on Friday. Marathon Oil has a fifty-two week low of $21.63 and a fifty-two week high of $30.06. The company has a market capitalization of $15.72 billion, a P/E ratio of 10.74 and a beta of 2.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.40 and a quick ratio of 0.35. The firm’s fifty day moving average price is $26.23 and its two-hundred day moving average price is $25.35.

Marathon Oil (NYSE:MRO) last released its earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis.

Marathon Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 21st were paid a $0.11 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $0.44 annualized dividend and a yield of 1.60%. Marathon Oil’s payout ratio is currently 17.19%.

Insiders Place Their Bets

In related news, CFO Dane E. Whitehead sold 73,233 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $27.06, for a total transaction of $1,981,684.98. Following the sale, the chief financial officer now owns 152,008 shares in the company, valued at $4,113,336.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Patrick Wagner sold 39,969 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were 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 in the company, valued at approximately $4,757,459.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dane E. Whitehead sold 73,233 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $27.06, for a total value of $1,981,684.98. Following the transaction, the chief financial officer now directly owns 152,008 shares in the company, valued at approximately $4,113,336.48. The disclosure for this sale can be found here. Insiders have sold 281,332 shares of company stock valued at $7,644,903 in the last three months. 0.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Oil

A number of large investors have recently added to or reduced their stakes in MRO. State Street Corp boosted its holdings in shares of Marathon Oil by 0.8% during the 1st quarter. State Street Corp now owns 48,341,531 shares of the oil and gas producer’s stock worth $1,213,856,000 after buying an additional 392,821 shares during the period. Invesco Ltd. grew its position in shares of Marathon Oil by 51.4% in the third quarter. Invesco Ltd. now owns 27,988,152 shares of the oil and gas producer’s stock valued at $748,683,000 after purchasing an additional 9,504,754 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Marathon Oil by 24.3% during the fourth 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 during the period. Morgan Stanley lifted 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 during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Marathon Oil by 1,220.4% in the 1st quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock valued at $219,828,000 after purchasing an additional 8,091,570 shares during the period. Institutional investors 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.