Marathon Oil Co. Declares Quarterly Dividend of $0.11 (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO) announced a quarterly dividend on Wednesday, October 30th,RTT News reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.11 per share by the oil and gas producer on Tuesday, December 10th. This represents a $0.44 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, November 15th.

Marathon Oil has increased its dividend by an average of 72.4% per year over the last three years. Marathon Oil has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Marathon Oil to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.2%.

Marathon Oil Trading Down 1.1 %

Shares of Marathon Oil stock opened at $28.31 on Wednesday. The company has a market capitalization of $15.84 billion, a P/E ratio of 12.15 and a beta of 2.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.69. The company has a fifty day moving average of $27.25 and a 200 day moving average of $27.53. Marathon Oil has a fifty-two week low of $21.81 and a fifty-two week high of $30.06.

Marathon Oil (NYSE:MRO) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Oil will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MRO. Susquehanna lowered their price target on shares of Marathon Oil from $39.00 to $37.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. UBS Group decreased their price target on shares of Marathon Oil from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Truist Financial decreased their price target on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.12.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 76,828 shares in the company, valued at approximately $2,090,489.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dane E. Whitehead sold 52,008 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the completion of the transaction, the insider now owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

About Marathon Oil

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.