Marathon Oil (NYSE:MRO) Price Target Raised to $37.00 at Piper Sandler

Marathon Oil (NYSE:MRO) had its price objective lifted by Piper Sandler from $34.00 to $37.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

MRO has been the topic of a number of other reports. Capital One Financial downgraded Marathon Oil from a strong-buy rating to a hold rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $33.00 target price on shares of Marathon Oil in a report on Wednesday, July 17th. Wells Fargo & Company restated an equal weight rating and set a $29.00 price target (down previously from $38.00) on shares of Marathon Oil in a research note on Friday, May 31st. Scotiabank dropped their price objective on shares of Marathon Oil from $29.00 to $27.61 and set a sector perform rating on the stock in a research note on Monday, August 12th. Finally, 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 research report on Wednesday, June 5th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $32.40.

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $28.16 on Thursday. Marathon Oil has a 1 year low of $21.81 and a 1 year high of $30.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. The business’s 50-day moving average is $28.01 and its 200-day moving average is $26.87. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 11.64 and a beta of 2.19.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). Marathon Oil had a return on equity of 13.81% and a net margin of 22.12%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. Marathon Oil’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts predict that Marathon Oil will post 2.8 earnings per share for the current year.

Marathon Oil Dividend Announcement

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 issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.44 annualized dividend and a dividend yield of 1.56%. Marathon Oil’s payout ratio is 18.18%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MRO. Riverview Trust Co purchased a new position in Marathon Oil during the first quarter valued at $27,000. Benjamin Edwards Inc. raised its position in Marathon Oil by 226.0% during the first quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 678 shares during the period. Founders Capital Management boosted its holdings in shares of Marathon Oil by 100.0% in the 2nd quarter. Founders Capital Management now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 500 shares during the period. Highbridge Capital Management LLC bought a new stake in Marathon Oil in the second quarter worth $29,000. Finally, Fortis Group Advisors LLC lifted its holdings in shares of Marathon Oil by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,236 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 618 shares during the last quarter. 77.24% of the stock is currently owned by institutional investors.

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.