Marathon Oil (NYSE:MRO) released its quarterly earnings results on Wednesday. The oil and gas producer reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04, RTT News reports. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.47 billion. Marathon Oil had a negative net margin of 3.03% and a positive return on equity of 2.25%. The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) earnings per share.
Shares of NYSE MRO opened at $18.57 on Thursday. Marathon Oil has a 1 year low of $14.27 and a 1 year high of $24.20. The company has a market cap of $15.66 billion, a P/E ratio of -48.87, a PEG ratio of 1.50 and a beta of 2.45. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 20th. This represents a $0.20 dividend on an annualized basis and a yield of 1.08%. Marathon Oil’s dividend payout ratio (DPR) is currently -52.63%.
A number of large investors have recently bought and sold shares of MRO. Allianz Asset Management GmbH raised its stake in Marathon Oil by 4,031.1% during the first quarter. Allianz Asset Management GmbH now owns 2,085,073 shares of the oil and gas producer’s stock worth $33,633,000 after purchasing an additional 2,034,601 shares during the period. DnB Asset Management AS raised its stake in Marathon Oil by 3.5% during the second quarter. DnB Asset Management AS now owns 107,109 shares of the oil and gas producer’s stock worth $2,234,000 after purchasing an additional 3,600 shares during the period. Clinton Group Inc. purchased a new position in Marathon Oil during the second quarter worth approximately $220,000. IFM Investors Pty Ltd raised its stake in Marathon Oil by 41.9% during the second quarter. IFM Investors Pty Ltd now owns 39,655 shares of the oil and gas producer’s stock worth $827,000 after purchasing an additional 11,705 shares during the period. Finally, Fulton Bank N.A. purchased a new position in Marathon Oil during the second quarter worth approximately $255,000. 80.01% of the stock is currently owned by institutional investors.
Several research firms have recently commented on MRO. JPMorgan Chase & Co. set a $27.00 price target on shares of Marathon Oil and gave the company a “buy” rating in a research report on Monday, October 1st. They noted that the move was a valuation call. Piper Jaffray Companies reiterated an “overweight” rating on shares of Marathon Oil in a research report on Friday, September 28th. ValuEngine upgraded shares of Marathon Oil from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Morgan Stanley raised their target price on shares of Marathon Oil from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, September 26th. Finally, Royal Bank of Canada set a $27.00 target price on shares of Marathon Oil and gave the stock a “hold” rating in a research report on Thursday, September 20th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.36.
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About Marathon Oil
Marathon Oil Corporation operates as an energy company in the United States, Equatorial Guinea, the United Kingdom, and Libya. It operates in two segments, United States E&P and International E&P. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.
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