Marathon Oil (NYSE:MRO) Releases Earnings Results

Marathon Oil (NYSE:MRO) released its quarterly earnings data on Wednesday. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03, Briefing.com reports. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the company earned $0.77 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis.

Marathon Oil Trading Down 1.5 %

Shares of MRO stock traded down $0.43 on Thursday, reaching $28.37. 5,132,396 shares of the stock were exchanged, compared to its average volume of 8,045,480. The firm has a 50 day moving average of $27.26 and a two-hundred day moving average of $27.51. Marathon Oil has a 1-year low of $21.81 and a 1-year high of $30.06. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The stock has a market cap of $15.87 billion, a P/E ratio of 11.20 and a beta of 2.16.

Marathon Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.55%. Marathon Oil’s dividend payout ratio (DPR) is presently 17.12%.

Analyst Ratings Changes

A number of research firms have recently commented on MRO. Susquehanna dropped their price objective on Marathon Oil from $39.00 to $37.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Oil from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. StockNews.com began coverage on Marathon Oil in a report on Thursday. They set a “buy” rating on the stock. Truist Financial lowered their price objective on shares of Marathon Oil from $35.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Wells Fargo & Company lowered their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Oil presently has an average rating of “Moderate Buy” and a consensus target price of $31.12.

Insider Activity

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