Barclays Trims Marathon Oil (NYSE:MRO) Target Price to $34.00

Marathon Oil (NYSE:MRO) had its price objective reduced by Barclays from $35.00 to $34.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other analysts have also issued reports about the stock. StockNews.com assumed coverage on shares of Marathon Oil in a research note on Saturday, September 28th. They set a buy rating for the company. UBS Group decreased their price objective on shares of Marathon Oil from $30.00 to $28.00 and set a neutral rating for the company in a report on Wednesday, September 18th. Citigroup cut their target price on Marathon Oil from $29.00 to $28.00 and set a neutral rating on the stock in a research note on Thursday, September 5th. Capital One Financial cut Marathon Oil from a strong-buy rating to a hold rating in a research note on Wednesday, June 5th. Finally, Scotiabank dropped their price objective on Marathon Oil from $29.00 to $27.61 and set a sector perform rating on the stock in a research report on Monday, August 12th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $31.09.

Marathon Oil Price Performance

Shares of NYSE MRO opened at $28.99 on Thursday. The company has a 50 day simple moving average of $27.46 and a two-hundred day simple moving average of $27.71. Marathon Oil has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 11.98 and a beta of 2.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.57.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data 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 net margin of 22.12% and a return on equity of 13.81%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts expect that Marathon Oil will post 2.53 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.52%. Marathon Oil’s dividend payout ratio (DPR) is presently 18.18%.

Insider Activity

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $27.21, for a total value of $1,033,980.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $1,430,220.00. Following the sale, the insider now owns 100,000 shares in the company, valued at $2,750,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael A. Henderson sold 38,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the transaction, the vice president now directly owns 76,828 shares in the company, valued at $2,090,489.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Marathon Oil

Several institutional investors have recently bought and sold shares of the stock. HWG Holdings LP bought a new position in shares of Marathon Oil during the 2nd quarter valued at about $26,000. Riverview Trust Co bought a new position in Marathon Oil during the first quarter valued at approximately $27,000. Benjamin Edwards Inc. grew its holdings in Marathon Oil by 226.0% during the 1st quarter. Benjamin Edwards Inc. now owns 978 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 678 shares in the last quarter. Founders Capital Management increased its stake in 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 acquiring an additional 500 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Marathon Oil during the 2nd quarter worth approximately $29,000. 77.24% of the stock is owned by hedge funds and other 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.