Marathon Oil Corporation (MRO) Given New $11.00 Price Target at Barclays PLC

Marathon Oil Corporation (NYSE:MRO) had its price objective raised by Barclays PLC from $9.00 to $11.00 in a research note published on Friday morning. The firm currently has an equal weight rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued research reports about the company. FBR & Co reaffirmed a buy rating and set a $20.00 target price on shares of Marathon Oil Corporation in a research note on Monday, May 15th. Scotiabank set a $21.00 target price on Marathon Oil Corporation and gave the company a buy rating in a research note on Saturday, May 6th. Vetr cut Marathon Oil Corporation from a strong-buy rating to a buy rating and set a $18.38 target price on the stock. in a research note on Monday, April 10th. Citigroup Inc. raised Marathon Oil Corporation from a neutral rating to a buy rating and lowered their target price for the company from $19.00 to $15.00 in a research note on Wednesday, July 5th. Finally, Morgan Stanley raised Marathon Oil Corporation from an underweight rating to an equal weight rating and lowered their price target for the company from $17.00 to $14.00 in a research note on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $17.44.

Shares of Marathon Oil Corporation (NYSE:MRO) traded up 3.12% on Friday, hitting $12.90. 21,773,594 shares of the stock traded hands. The company’s 50 day moving average is $11.91 and its 200 day moving average is $14.51. Marathon Oil Corporation has a one year low of $11.20 and a one year high of $19.28. The stock’s market cap is $10.96 billion.

Marathon Oil Corporation (NYSE:MRO) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.10. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.69%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned ($0.23) EPS. The company’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts forecast that Marathon Oil Corporation will post ($0.44) EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. Marathon Oil Corporation’s dividend payout ratio (DPR) is presently -2.55%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Hartford Financial Management Inc. raised its position in shares of Marathon Oil Corporation by 14.4% in the first quarter. Hartford Financial Management Inc. now owns 24,282 shares of the oil and gas producer’s stock worth $383,000 after buying an additional 3,051 shares during the period. DnB Asset Management AS raised its position in shares of Marathon Oil Corporation by 70.4% in the first quarter. DnB Asset Management AS now owns 129,709 shares of the oil and gas producer’s stock worth $2,049,000 after buying an additional 53,600 shares during the period. Viking Fund Management LLC acquired a new position in shares of Marathon Oil Corporation during the first quarter worth approximately $3,792,000. Eastern Bank acquired a new position in shares of Marathon Oil Corporation during the first quarter worth approximately $337,000. Finally, Bank of Montreal Can raised its position in shares of Marathon Oil Corporation by 91.1% in the first quarter. Bank of Montreal Can now owns 2,091,771 shares of the oil and gas producer’s stock worth $33,050,000 after buying an additional 997,175 shares during the period. Institutional investors own 81.20% of the company’s stock.

Marathon Oil Corporation Company Profile

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.