Marathon Oil (NYSE:MRO) – Investment analysts at Seaport Global Securities boosted their Q2 2018 earnings per share estimates for shares of Marathon Oil in a note issued to investors on Wednesday, May 23rd. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will earn $0.08 per share for the quarter, up from their previous forecast of $0.06. Seaport Global Securities also issued estimates for Marathon Oil’s Q3 2018 earnings at $0.14 EPS and Q4 2018 earnings at $0.14 EPS.
Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Wednesday, May 2nd. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.36 billion. Marathon Oil had a negative net margin of 7.56% and a negative return on equity of 0.50%. The firm’s revenue was up 61.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) EPS.
MRO has been the topic of several other reports. Royal Bank of Canada set a $21.00 price target on shares of Marathon Oil and gave the company a “hold” rating in a report on Friday, April 13th. Stifel Nicolaus set a $19.00 price target on shares of Marathon Oil and gave the company a “hold” rating in a report on Wednesday, March 28th. Zacks Investment Research lowered shares of Marathon Oil from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. UBS initiated coverage on shares of Marathon Oil in a report on Wednesday, March 7th. They set a “neutral” rating and a $16.00 price target on the stock. Finally, JPMorgan Chase & Co. raised shares of Marathon Oil from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Monday, March 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $18.45.
Shares of Marathon Oil opened at $21.47 on Thursday, MarketBeat.com reports. The company has a market cap of $18.38 billion, a P/E ratio of -56.50, a P/E/G ratio of 2.11 and a beta of 2.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.46 and a current ratio of 1.52. Marathon Oil has a 1 year low of $10.55 and a 1 year high of $22.12.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Wednesday, May 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, May 15th. Marathon Oil’s payout ratio is -52.63%.
In other Marathon Oil news, insider Lee M. Tillman sold 400,000 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $21.65, for a total transaction of $8,660,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MRO. Schwab Charles Investment Management Inc. lifted its position in shares of Marathon Oil by 4.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,998,450 shares of the oil and gas producer’s stock worth $67,694,000 after purchasing an additional 159,449 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Marathon Oil in the 4th quarter worth approximately $441,000. State of Alaska Department of Revenue lifted its position in shares of Marathon Oil by 51.6% in the 4th quarter. State of Alaska Department of Revenue now owns 119,711 shares of the oil and gas producer’s stock worth $2,025,000 after purchasing an additional 40,720 shares during the period. Cerebellum GP LLC acquired a new position in shares of Marathon Oil in the 4th quarter worth approximately $117,000. Finally, APG Asset Management N.V. acquired a new position in shares of Marathon Oil in the 4th quarter worth approximately $818,000. 79.12% of the stock is currently owned by hedge funds and other institutional investors.
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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