Marathon Oil Corporation (NYSE:MRO) declared a quarterly dividend on Wednesday, July 26th, RTT News reports. Stockholders of record on Wednesday, August 16th will be paid a dividend of 0.05 per share by the oil and gas producer on Monday, September 11th. This represents a $0.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, August 14th.
Marathon Oil Corporation has decreased its dividend by an average of 34.8% annually over the last three years. Marathon Oil Corporation has a payout ratio of -47.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Marathon Oil Corporation to earn ($0.25) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -80.0%.
Marathon Oil Corporation (NYSE:MRO) traded up 3.12% during trading on Friday, hitting $12.90. 21,773,594 shares of the company traded hands. The stock has a 50 day moving average price of $11.91 and a 200 day moving average price of $14.51. The company’s market capitalization is $10.96 billion. Marathon Oil Corporation has a 12-month low of $11.20 and a 12-month high of $19.28.
Marathon Oil Corporation (NYSE:MRO) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.10. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Marathon Oil Corporation had a negative return on equity of 2.69% and a negative net margin of 140.22%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. On average, equities analysts anticipate that Marathon Oil Corporation will post ($0.44) earnings per share for the current year.
A number of brokerages recently issued reports on MRO. BidaskClub upgraded Marathon Oil Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday. Barclays PLC boosted their price objective on Marathon Oil Corporation from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday. Scotiabank reaffirmed a “buy” rating and set a $19.00 target price on shares of Marathon Oil Corporation in a report on Thursday. Zacks Investment Research raised Marathon Oil Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Citigroup Inc. reduced their target price on Marathon Oil Corporation from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Marathon Oil Corporation currently has an average rating of “Hold” and a consensus target price of $17.62.
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About Marathon Oil Corporation
Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.
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