FY2024 EPS Estimates for Marathon Oil Cut by Zacks Research

Marathon Oil Co. (NYSE:MRO) – Zacks Research lowered their FY2024 earnings per share estimates for Marathon Oil in a research report issued on Tuesday, November 19th. Zacks Research analyst N. Choudhury now expects that the oil and gas producer will post earnings per share of $2.32 for the year, down from their prior estimate of $2.37. The consensus estimate for Marathon Oil’s current full-year earnings is $2.34 per share. Zacks Research also issued estimates for Marathon Oil’s Q4 2024 earnings at $0.50 EPS, Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.50 EPS, FY2025 earnings at $2.09 EPS, Q1 2026 earnings at $0.38 EPS, Q2 2026 earnings at $0.42 EPS and FY2026 earnings at $1.73 EPS.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. Marathon Oil had a return on equity of 12.80% and a net margin of 19.73%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS.

Other analysts also recently issued reports about the stock. StockNews.com initiated coverage on shares of Marathon Oil in a research report on Friday, November 15th. They set a “buy” rating on the stock. Piper Sandler cut their target price on Marathon Oil from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Mizuho lowered their price target on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company cut their price objective on Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Finally, Citigroup decreased their target price on Marathon Oil from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Oil currently has an average rating of “Moderate Buy” and an average target price of $30.94.

Marathon Oil Price Performance

Shares of NYSE MRO opened at $28.55 on Thursday. The stock has a market cap of $15.97 billion, a P/E ratio of 12.22 and a beta of 2.16. The firm’s 50-day simple moving average is $27.57 and its 200 day simple moving average is $27.62. Marathon Oil has a fifty-two week low of $21.81 and a fifty-two week high of $30.06. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Marathon Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.54%. Marathon Oil’s dividend payout ratio (DPR) is presently 18.88%.

Insider Activity

In other news, VP Michael A. Henderson sold 38,000 shares of the 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 sale, the vice president now directly owns 76,828 shares of the company’s stock, valued at $2,090,489.88. This represents a 33.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lee M. Tillman sold 256,591 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $29.07, for a total transaction of $7,459,100.37. Following the completion of the transaction, the chief executive officer now owns 596,330 shares in the company, valued at approximately $17,335,313.10. This represents a 30.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 382,693 shares of company stock worth $10,964,251. 0.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Oil

Several large investors have recently made changes to their positions in MRO. Gradient Investments LLC grew its holdings in shares of Marathon Oil by 1.9% in the 2nd quarter. Gradient Investments LLC now owns 22,829 shares of the oil and gas producer’s stock worth $655,000 after purchasing an additional 428 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Marathon Oil by 1.9% in the third quarter. Miracle Mile Advisors LLC now owns 24,084 shares of the oil and gas producer’s stock valued at $641,000 after buying an additional 454 shares in the last quarter. Grove Bank & Trust grew its stake in Marathon Oil by 77.4% during the second quarter. Grove Bank & Trust now owns 1,066 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Marathon Oil by 6.5% during the third quarter. Larson Financial Group LLC now owns 7,897 shares of the oil and gas producer’s stock worth $210,000 after buying an additional 483 shares in the last quarter. Finally, Catalina Capital Group LLC raised its stake in shares of Marathon Oil by 3.1% in the third quarter. Catalina Capital Group LLC now owns 16,533 shares of the oil and gas producer’s stock valued at $440,000 after acquiring an additional 495 shares during the last quarter. 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.