Q2 2024 EPS Estimates for Marathon Oil Co. (NYSE:MRO) Boosted by Zacks Research

Marathon Oil Co. (NYSE:MRO) – Equities research analysts at Zacks Research boosted their Q2 2024 EPS estimates for shares of Marathon Oil in a research report issued to clients and investors on Wednesday, April 17th. Zacks Research analyst N. Choudhury now expects that the oil and gas producer will post earnings of $0.60 per share for the quarter, up from their prior estimate of $0.57. The consensus estimate for Marathon Oil’s current full-year earnings is $2.73 per share. Zacks Research also issued estimates for Marathon Oil’s Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $0.71 EPS, FY2024 earnings at $2.46 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.72 EPS, FY2025 earnings at $2.83 EPS and FY2026 earnings at $2.73 EPS.

A number of other research analysts have also weighed in on MRO. Royal Bank of Canada reiterated an “outperform” rating and issued a $33.00 price objective on shares of Marathon Oil in a research note on Tuesday, March 5th. Stifel Nicolaus reduced their price target on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Morgan Stanley boosted their price target on shares of Marathon Oil from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday. The Goldman Sachs Group boosted their price target on shares of Marathon Oil from $26.50 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Finally, Scotiabank boosted their price target on shares of Marathon Oil from $35.00 to $45.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marathon Oil currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.66.

Marathon Oil Stock Down 1.0 %

Marathon Oil stock opened at $27.39 on Friday. Marathon Oil has a 1-year low of $21.63 and a 1-year high of $30.06. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 10.70 and a beta of 2.22. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $26.13 and a 200 day simple moving average of $25.34.

Marathon Oil (NYSE:MRO) last released its quarterly earnings data on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $0.88 EPS. Marathon Oil’s revenue was down 2.4% compared to the same quarter last year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were paid a $0.11 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.61%. Marathon Oil’s dividend payout ratio is presently 17.19%.

Insider Transactions at Marathon Oil

In related news, insider Patrick Wagner sold 39,969 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.89, for a total transaction of $1,074,766.41. Following the transaction, the insider now owns 176,923 shares in the company, valued at $4,757,459.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Dane E. Whitehead sold 73,233 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $27.06, for a total transaction of $1,981,684.98. Following the transaction, the chief financial officer now owns 152,008 shares in the company, valued at $4,113,336.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick Wagner sold 39,969 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.89, for a total transaction of $1,074,766.41. Following the transaction, the insider now owns 176,923 shares in the company, valued at approximately $4,757,459.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 281,332 shares of company stock worth $7,644,903. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MRO. Invesco Ltd. raised its position in Marathon Oil by 51.4% in the third quarter. Invesco Ltd. now owns 27,988,152 shares of the oil and gas producer’s stock worth $748,683,000 after acquiring an additional 9,504,754 shares during the period. Wellington Management Group LLP raised its position in Marathon Oil by 1,220.4% in the first quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock worth $219,828,000 after acquiring an additional 8,091,570 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Marathon Oil by 1,134.4% in the first quarter. JPMorgan Chase & Co. now owns 5,457,542 shares of the oil and gas producer’s stock worth $130,763,000 after purchasing an additional 5,015,428 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Marathon Oil in the second quarter worth $89,591,000. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Marathon Oil by 24.3% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 19,388,560 shares of the oil and gas producer’s stock worth $468,428,000 after purchasing an additional 3,795,020 shares in 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.