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

Marathon Oil (NYSE:MRO) had its price target cut by Citigroup from $29.00 to $28.00 in a research report released on Thursday, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Several other equities analysts also recently commented on MRO. StockNews.com initiated coverage on Marathon Oil in a research report on Wednesday. They issued a buy rating on the stock. Wells Fargo & Company restated an equal weight rating and issued a $29.00 price target (down from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. JPMorgan Chase & Co. reiterated a neutral rating and set a $33.00 price objective on shares of Marathon Oil in a research report on Wednesday, July 17th. Mizuho boosted their target price on shares of Marathon Oil from $33.00 to $34.00 and gave the stock a neutral rating in a report on Wednesday, June 5th. Finally, Susquehanna cut their target price on shares of Marathon Oil from $39.00 to $37.00 and set a positive rating for the company in a research note on Wednesday. Nine 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. According to data from MarketBeat.com, Marathon Oil has a consensus rating of Moderate Buy and an average price target of $32.03.

Marathon Oil Price Performance

NYSE MRO opened at $26.72 on Thursday. The stock has a market cap of $15.07 billion, a price-to-earnings ratio of 11.04 and a beta of 2.16. Marathon Oil has a 12 month low of $21.81 and a 12 month high of $30.06. The company’s 50 day moving average is $27.99 and its two-hundred day moving average is $27.39. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 earnings per share. As a group, research analysts anticipate that Marathon Oil will post 2.76 earnings per share for the current year.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, August 21st. Marathon Oil’s payout ratio is 18.18%.

Hedge Funds Weigh In On Marathon Oil

Large investors have recently modified their holdings of the stock. Park Avenue Securities LLC boosted its stake in Marathon Oil by 4.8% during the first quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer’s stock worth $257,000 after buying an additional 415 shares during the period. Wahed Invest LLC grew its holdings in Marathon Oil by 4.2% during the 4th quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer’s stock valued at $249,000 after purchasing an additional 419 shares during the last quarter. Gradient Investments LLC raised its position in Marathon Oil by 1.9% in the 2nd quarter. Gradient Investments LLC now owns 22,829 shares of the oil and gas producer’s stock worth $655,000 after purchasing an additional 428 shares during the period. Trueblood Wealth Management LLC lifted its stake in Marathon Oil by 4.8% in the first quarter. Trueblood Wealth Management LLC now owns 9,559 shares of the oil and gas producer’s stock worth $271,000 after purchasing an additional 439 shares during the last quarter. Finally, Argent Capital Management LLC boosted its position in shares of Marathon Oil by 0.5% during the first quarter. Argent Capital Management LLC now owns 87,563 shares of the oil and gas producer’s stock valued at $2,482,000 after buying an additional 441 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.