Royal Bank of Canada upgraded shares of Marathon Oil (NYSE:MRO) from a sector perform rating to an outperform rating in a research report report published on Tuesday, BenzingaRatingsTable reports. Royal Bank of Canada currently has $23.00 target price on the oil and gas producer’s stock, up from their prior target price of $22.00.
Several other research analysts have also commented on the stock. Barclays dropped their price objective on shares of Marathon Oil from $22.00 to $21.00 and set an overweight rating for the company in a research note on Thursday, April 11th. TheStreet raised shares of Marathon Oil from a c+ rating to a b- rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Marathon Oil in a research note on Tuesday, March 5th. MKM Partners set a $22.00 price objective on shares of Marathon Oil and gave the stock a buy rating in a research note on Tuesday, February 26th. Finally, Argus dropped their price objective on shares of Marathon Oil from $25.00 to $22.00 and set a buy rating for the company in a research note on Monday, February 25th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $23.27.
MRO stock opened at $17.47 on Tuesday. Marathon Oil has a fifty-two week low of $12.57 and a fifty-two week high of $24.20. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $14.25 billion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 3.35 and a beta of 2.25.
Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, February 13th. The oil and gas producer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.42 billion. Marathon Oil had a net margin of 16.65% and a return on equity of 4.97%. Marathon Oil’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. Analysts predict that Marathon Oil will post 0.49 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of MRO. Norges Bank purchased a new stake in shares of Marathon Oil during the fourth quarter valued at $122,747,000. Macquarie Group Ltd. boosted its stake in shares of Marathon Oil by 17.8% during the fourth quarter. Macquarie Group Ltd. now owns 41,766,089 shares of the oil and gas producer’s stock valued at $598,926,000 after purchasing an additional 6,298,905 shares during the period. Morgan Stanley boosted its stake in shares of Marathon Oil by 93.8% during the third quarter. Morgan Stanley now owns 3,616,531 shares of the oil and gas producer’s stock valued at $84,193,000 after purchasing an additional 1,750,736 shares during the period. Deutsche Bank AG boosted its stake in shares of Marathon Oil by 36.1% during the fourth quarter. Deutsche Bank AG now owns 5,507,722 shares of the oil and gas producer’s stock valued at $78,976,000 after purchasing an additional 1,460,859 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Marathon Oil by 12.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,926,029 shares of the oil and gas producer’s stock valued at $171,011,000 after purchasing an additional 1,328,679 shares during the period. 81.63% of the stock is 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 and International. 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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