Marathon Oil (NYSE:MRO) Price Target Raised to $34.00

Marathon Oil (NYSE:MRO) had its price objective raised by Piper Sandler from $32.00 to $34.00 in a research note released on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group boosted their price target on shares of Marathon Oil from $26.50 to $30.00 and gave the company a neutral rating in a research report on Tuesday, March 26th. Stifel Nicolaus reduced their price target on shares of Marathon Oil from $39.00 to $36.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Benchmark boosted their price target on shares of Marathon Oil from $25.00 to $32.00 and gave the company a buy rating in a research report on Wednesday, March 13th. Argus upgraded shares of Marathon Oil from a hold rating to a buy rating and set a $31.00 price target on the stock in a research report on Thursday, March 14th. Finally, Mizuho boosted their price target on shares of Marathon Oil from $28.00 to $31.00 and gave the company a neutral rating in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $32.76.

Marathon Oil Price Performance

Shares of Marathon Oil stock opened at $27.50 on Friday. The firm has a market cap of $15.72 billion, a PE ratio of 10.74 and a beta of 2.22. Marathon Oil has a 12-month low of $21.63 and a 12-month high of $30.06. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $26.23 and its two-hundred day simple moving average is $25.35.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, equities analysts expect that Marathon Oil will post 2.74 EPS for the current year.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were paid a $0.11 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.60%. Marathon Oil’s dividend payout ratio is presently 17.19%.

Insider Activity at Marathon Oil

In related news, CEO Lee M. Tillman sold 80,647 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total transaction of $2,172,630.18. Following the transaction, the chief executive officer now owns 596,330 shares in the company, valued at $16,065,130.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Michael A. Henderson sold 51,389 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $27.59, for a total transaction of $1,417,822.51. Following the transaction, the vice president now owns 114,828 shares in the company, valued at $3,168,104.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Lee M. Tillman sold 80,647 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total transaction of $2,172,630.18. Following the transaction, the chief executive officer now owns 596,330 shares in the company, valued at approximately $16,065,130.20. The disclosure for this sale can be found here. Insiders have sold a total of 281,332 shares of company stock worth $7,644,903 over the last quarter. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Accel Wealth Management bought a new position in Marathon Oil in the first quarter worth approximately $202,000. Norden Group LLC bought a new position in Marathon Oil in the first quarter worth approximately $1,341,000. BluePath Capital Management LLC raised its position in Marathon Oil by 64.0% in the first quarter. BluePath Capital Management LLC now owns 17,396 shares of the oil and gas producer’s stock worth $493,000 after acquiring an additional 6,789 shares during the period. Mayfair Advisory Group LLC bought a new position in Marathon Oil in the first quarter worth approximately $206,000. Finally, Viking Fund Management LLC raised its position in Marathon Oil by 12.5% in the first quarter. Viking Fund Management LLC now owns 180,000 shares of the oil and gas producer’s stock worth $5,101,000 after acquiring an additional 20,000 shares during the period. 77.24% of the stock is currently owned by institutional investors.

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.