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

Marathon Oil (NYSE:MRO - Free Report) had its price target raised by Piper Sandler from $32.00 to $34.00 in a report released on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas producer's stock.

Several other research analysts have also recently weighed in on MRO. Raymond James lowered their target price on Marathon Oil from $35.00 to $32.00 and set a strong-buy rating on the stock in a report on Wednesday, January 24th. Barclays started coverage on Marathon Oil in a research report on Wednesday, April 10th. They set an overweight rating and a $35.00 price objective on the stock. The Goldman Sachs Group upped their target price on Marathon Oil from $26.50 to $30.00 and gave the company a neutral rating in a report on Tuesday, March 26th. Truist Financial lifted their price target on Marathon Oil from $35.00 to $36.00 and gave the stock a buy rating in a report on Friday, April 5th. Finally, Argus raised shares of Marathon Oil from a hold rating to a buy rating and set a $31.00 price objective for the company in a report on Thursday, March 14th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $32.76.

Marathon Oil Price Performance

Shares of NYSE:MRO traded up $0.10 during midday trading on Friday, reaching $27.50. 7,837,443 shares of the company's stock traded hands, compared to its average volume of 9,897,403. 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 company has a fifty day simple moving average of $26.13 and a two-hundred day simple moving average of $25.34. The company has a market cap of $15.72 billion, a P/E ratio of 10.77 and a beta of 2.22. Marathon Oil has a 1 year low of $21.63 and a 1 year high of $30.06.

Marathon Oil (NYSE:MRO - Get Free Report) last posted its quarterly earnings data 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. Marathon Oil had a return on equity of 14.09% and a net margin of 23.20%. The company had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.66 billion. During the same period in the previous year, the firm posted $0.88 EPS. Marathon Oil's revenue was down 2.4% compared to the same quarter last year. Equities analysts predict that Marathon Oil will post 2.73 EPS for the current fiscal year.

Marathon Oil Dividend Announcement

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Marathon Oil

A number of institutional investors have recently made changes to their positions in MRO. Invesco Ltd. boosted its stake in Marathon Oil by 51.4% during the 3rd quarter. Invesco Ltd. now owns 27,988,152 shares of the oil and gas producer's stock valued at $748,683,000 after acquiring an additional 9,504,754 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Marathon Oil by 1,220.4% during the first quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer's stock worth $219,828,000 after purchasing an additional 8,091,570 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Marathon Oil by 1,134.4% in the first quarter. JPMorgan Chase & Co. now owns 5,457,542 shares of the oil and gas producer's stock worth $130,763,000 after purchasing an additional 5,015,428 shares in the last quarter. Woodline Partners LP bought a new stake in Marathon Oil in the second quarter valued at about $89,591,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Marathon Oil by 24.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 19,388,560 shares of the oil and gas producer's stock valued at $468,428,000 after buying an additional 3,795,020 shares in the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

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.