Marathon Oil (NYSE:MRO) Price Target Lowered to $27.00 at Wells Fargo & Company

Marathon Oil (NYSE:MRO) had its price objective cut by Wells Fargo & Company from $29.00 to $27.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

MRO has been the subject of several other research reports. Truist Financial reduced their price objective on shares of Marathon Oil from $35.00 to $27.00 and set a buy rating for the company in a report on Monday. Scotiabank reduced their price target on shares of Marathon Oil from $29.00 to $27.61 and set a sector perform rating for the company in a research note on Monday, August 12th. Citigroup lowered their price objective on shares of Marathon Oil from $29.00 to $28.00 and set a neutral rating on the stock in a research note on Thursday, September 5th. Susquehanna dropped their target price on Marathon Oil from $39.00 to $37.00 and set a positive rating on the stock in a report on Wednesday, September 4th. Finally, StockNews.com initiated coverage on Marathon Oil in a research note on Saturday. They set a buy rating for the company. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Oil presently has a consensus rating of Moderate Buy and an average price target of $31.15.

Marathon Oil Stock Performance

Shares of MRO opened at $27.64 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.52. Marathon Oil has a 12-month low of $21.81 and a 12-month high of $30.06. The business’s fifty day moving average price is $27.43 and its 200 day moving average price is $27.67. The stock has a market capitalization of $15.59 billion, a PE ratio of 11.40 and a beta of 2.16.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. Equities research analysts forecast that Marathon Oil will post 2.57 EPS for the current year.

Marathon Oil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, August 21st. Marathon Oil’s payout ratio is 18.18%.

Insider Activity

In related news, VP Michael A. Henderson sold 38,000 shares of the firm’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 value of $1,033,980.00. Following the completion of the transaction, the vice president now owns 76,828 shares of the company’s stock, valued at approximately $2,090,489.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 76,828 shares in the company, valued at approximately $2,090,489.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction dated 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 directly owns 100,000 shares in the company, valued at approximately $2,750,000. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marathon Oil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado increased its position in Marathon Oil by 374.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 73,592 shares of the oil and gas producer’s stock worth $1,778,000 after purchasing an additional 58,081 shares during the last quarter. Blackstone Inc. increased its holdings in Marathon Oil by 23.1% in the fourth quarter. Blackstone Inc. now owns 79,901 shares of the oil and gas producer’s stock worth $1,930,000 after buying an additional 15,000 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in Marathon Oil during the fourth quarter valued at approximately $5,051,000. Quadrature Capital Ltd acquired a new stake in Marathon Oil in the fourth quarter valued at approximately $6,837,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Marathon Oil by 19.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 715,772 shares of the oil and gas producer’s stock worth $20,285,000 after acquiring an additional 117,061 shares in the last quarter. Hedge funds and other institutional investors own 77.24% 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.