Zacks Research Weighs in on Marathon Oil Co.'s Q2 2024 Earnings (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO - Free Report) - Stock analysts at Zacks Research raised their Q2 2024 EPS estimates for shares of Marathon Oil in a research note issued to investors on Wednesday, April 17th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas producer will earn $0.60 per share for the quarter, up from their prior estimate of $0.57. The consensus estimate for Marathon Oil's current full-year earnings is $2.73 per share. Zacks Research also issued estimates for Marathon Oil's Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $0.71 EPS, FY2024 earnings at $2.46 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.72 EPS, FY2025 earnings at $2.83 EPS and FY2026 earnings at $2.73 EPS.

Several other equities analysts also recently weighed in on MRO. Benchmark lifted their target price on shares of Marathon Oil from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. Scotiabank lifted their target price on shares of Marathon Oil from $35.00 to $45.00 and gave the stock a "sector outperform" rating in a research note on Thursday, April 11th. Stifel Nicolaus reduced their target price on shares of Marathon Oil from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Raymond James reduced their target price on shares of Marathon Oil from $35.00 to $32.00 and set a "strong-buy" rating for the company in a research note on Wednesday, January 24th. Finally, Truist Financial lifted their target price on shares of Marathon Oil from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $32.76.

Marathon Oil Stock Performance

MRO stock traded up $0.10 during mid-day trading on Friday, hitting $27.50. The company had a trading volume of 7,837,443 shares, compared to its average volume of 9,897,403. The firm has a market cap of $15.72 billion, a PE ratio of 10.74 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. Marathon Oil has a 12 month low of $21.63 and a 12 month high of $30.06. The stock's fifty day moving average price is $26.23 and its two-hundred day moving average price is $25.35.

Marathon Oil (NYSE:MRO - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC increased its position in Marathon Oil by 4.8% during the 1st quarter. Park Avenue Securities LLC now owns 9,062 shares of the oil and gas producer's stock valued at $257,000 after purchasing an additional 415 shares during the period. Wahed Invest LLC increased its position in Marathon Oil by 4.2% during the 4th quarter. Wahed Invest LLC now owns 10,317 shares of the oil and gas producer's stock valued at $249,000 after purchasing an additional 419 shares during the period. Oppenheimer Asset Management Inc. increased its position in Marathon Oil by 1.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,569 shares of the oil and gas producer's stock valued at $711,000 after purchasing an additional 421 shares during the period. Profund Advisors LLC increased its position in Marathon Oil by 1.2% during the 4th quarter. Profund Advisors LLC now owns 37,228 shares of the oil and gas producer's stock valued at $899,000 after purchasing an additional 451 shares during the period. Finally, Venture Visionary Partners LLC increased its position in Marathon Oil by 4.1% during the 4th quarter. Venture Visionary Partners LLC now owns 11,523 shares of the oil and gas producer's stock valued at $278,000 after purchasing an additional 458 shares during the period. 77.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Oil

In related news, insider Patrick Wagner sold 39,969 shares of the company's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $26.89, for a total transaction of $1,074,766.41. Following the completion of the sale, the insider now directly owns 176,923 shares in the company, valued at approximately $4,757,459.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Marathon Oil news, CEO Lee M. Tillman sold 80,647 shares of the business's stock in a transaction 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 directly owns 596,330 shares of the company's stock, valued at approximately $16,065,130.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick Wagner sold 39,969 shares of the business's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $26.89, for a total transaction of $1,074,766.41. Following the transaction, the insider now directly owns 176,923 shares in the company, valued at $4,757,459.47. The disclosure for this sale can be found here. Insiders sold a total of 281,332 shares of company stock worth $7,644,903 over the last three months. 0.42% of the stock is owned by insiders.

Marathon Oil Dividend Announcement

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

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.