Q1 2024 EPS Estimates for Marathon Oil Co. Cut by Analyst (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO - Free Report) - Research analysts at Capital One Financial dropped their Q1 2024 earnings estimates for shares of Marathon Oil in a research report issued on Thursday, April 11th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will post earnings of $0.46 per share for the quarter, down from their prior estimate of $0.52. The consensus estimate for Marathon Oil's current full-year earnings is $2.62 per share. Capital One Financial also issued estimates for Marathon Oil's Q2 2024 earnings at $0.69 EPS, Q3 2024 earnings at $0.77 EPS, Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $2.74 EPS and FY2025 earnings at $3.11 EPS.

Other research analysts have also recently issued reports about the stock. 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. Raymond James lowered their price target on Marathon Oil from $35.00 to $32.00 and set a "strong-buy" rating for the company in a research report on Wednesday, January 24th. Truist Financial lifted their price objective on Marathon Oil from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, April 5th. Royal Bank of Canada restated an "outperform" rating and set a $33.00 price target on shares of Marathon Oil in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus lowered their price target on Marathon Oil from $39.00 to $36.00 and set a "buy" rating on the stock in a 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 given a strong buy rating to the company. According to data from MarketBeat, Marathon Oil has an average rating of "Moderate Buy" and a consensus target price of $32.66.

Marathon Oil Stock Performance

NYSE MRO traded down $0.32 during trading on Monday, hitting $28.77. 8,944,409 shares of the company's stock traded hands, compared to its average volume of 9,876,648. Marathon Oil has a 12-month low of $21.63 and a 12-month high of $30.06. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 11.25 and a beta of 2.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.40. The business has a 50 day moving average of $25.69 and a 200-day moving average of $25.29.

Marathon Oil (NYSE:MRO - Get Free Report) last posted its earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $1.69 billion during 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 business's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 21st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, February 20th. Marathon Oil's dividend payout ratio (DPR) is currently 17.19%.

Insider Buying and Selling

In related news, insider Patrick Wagner sold 36,094 shares of the company's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total transaction of $997,999.10. Following the completion of the sale, the insider now directly owns 140,829 shares in the company, valued at approximately $3,893,921.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Marathon Oil news, insider Patrick Wagner sold 36,094 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $27.65, for a total value of $997,999.10. Following the completion of the sale, the insider now directly owns 140,829 shares in the company, valued at $3,893,921.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lee M. Tillman sold 80,647 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $2,172,630.18. Following the completion of the sale, the chief executive officer now owns 596,330 shares of the company's stock, valued at $16,065,130.20. The disclosure for this sale can be found here. Insiders sold 281,332 shares of company stock worth $7,644,903 in the last three months. 0.42% of the stock is owned by insiders.

Institutional Investors Weigh In On Marathon Oil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mcdonald Partners LLC purchased a new position in shares of Marathon Oil in the first quarter worth about $215,000. F&V Capital Management LLC raised its stake in shares of Marathon Oil by 1.9% in the first quarter. F&V Capital Management LLC now owns 557,112 shares of the oil and gas producer's stock worth $15,789,000 after purchasing an additional 10,155 shares during the last quarter. Richelieu Gestion SA purchased a new position in Marathon Oil during the first quarter valued at approximately $221,000. Riverview Trust Co purchased a new position in Marathon Oil during the first quarter valued at approximately $27,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of Marathon Oil in the first quarter valued at approximately $1,662,000. 77.24% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Oil

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.