Marathon Oil (NYSE:MRO) Releases Earnings Results, Beats Estimates By $0.03 EPS

Marathon Oil (NYSE:MRO) released its quarterly earnings results on Wednesday. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03, Briefing.com reports. Marathon Oil had a net margin of 21.83% and a return on equity of 13.22%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year.

Marathon Oil Price Performance

MRO traded up $0.25 during midday trading on Friday, hitting $26.34. The company had a trading volume of 9,055,754 shares, compared to its average volume of 9,206,166. Marathon Oil has a twelve month low of $21.63 and a twelve month high of $30.06. The firm’s 50-day simple moving average is $27.03 and its 200-day simple moving average is $25.43. The company has a market capitalization of $15.05 billion, a PE ratio of 10.88 and a beta of 2.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.40.

Marathon Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.44 annualized dividend and a yield of 1.67%. Marathon Oil’s dividend payout ratio (DPR) is 18.18%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MRO. Barclays initiated coverage on Marathon Oil in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $35.00 price target for the company. Morgan Stanley upped their target price on Marathon Oil from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Susquehanna restated a “positive” rating and issued a $33.00 price objective on shares of Marathon Oil in a research note on Monday, April 22nd. Stifel Nicolaus lowered their target price on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, StockNews.com raised shares of Marathon Oil from a “hold” rating to a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Oil has a consensus rating of “Moderate Buy” and a consensus target price of $32.66.

Insider Transactions at Marathon Oil

In other Marathon Oil news, insider Patrick Wagner sold 39,969 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $26.89, for a total value of $1,074,766.41. Following the transaction, the insider now owns 176,923 shares of the company’s stock, valued at $4,757,459.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Michael A. Henderson sold 51,389 shares of Marathon Oil stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $27.59, for a total value of $1,417,822.51. Following the sale, the vice president now owns 114,828 shares of the company’s stock, valued at $3,168,104.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick Wagner sold 39,969 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 281,332 shares of company stock worth $7,644,903. 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.