Wall Street brokerages expect Marathon Oil Co. (NYSE:MRO) to post sales of $1.13 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Marathon Oil's earnings, with estimates ranging from $1.04 billion to $1.22 billion. Marathon Oil reported sales of $272.00 million in the same quarter last year, which indicates a positive year over year growth rate of 315.4%. The company is expected to issue its next earnings report after the market closes on Wednesday, August 4th.
According to Zacks, analysts expect that Marathon Oil will report full year sales of $4.69 billion for the current year, with estimates ranging from $4.31 billion to $5.30 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.65 billion, with estimates ranging from $4.03 billion to $5.19 billion. Zacks' sales calculations are a mean average based on a survey of sell-side analysts that cover Marathon Oil.
Marathon Oil (NYSE:MRO) last issued its earnings results on Tuesday, May 4th. The oil and gas producer reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.10. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. Marathon Oil had a negative return on equity of 5.80% and a negative net margin of 44.69%.
Several research analysts have recently weighed in on MRO shares. Barclays boosted their price target on Marathon Oil from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, June 3rd. Mizuho increased their price target on Marathon Oil from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, May 17th. Siebert Williams Shank raised Marathon Oil from a "hold" rating to a "buy" rating in a research note on Thursday, May 13th. Truist Securities increased their target price on Marathon Oil from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, July 1st. Finally, Truist raised their target price on Marathon Oil from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, July 1st. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Marathon Oil has a consensus rating of "Buy" and an average target price of $12.79.
In related news, CEO Lee M. Tillman sold 67,500 shares of the firm's stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $11.03, for a total value of $744,525.00. Also, insider Patrick Wagner sold 31,667 shares of the firm's stock in a transaction on Friday, June 4th. The shares were sold at an average price of $13.72, for a total transaction of $434,471.24. Following the completion of the transaction, the insider now directly owns 263,959 shares of the company's stock, valued at $3,621,517.48. The disclosure for this sale can be found here. Company insiders own 0.76% of the company's stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in Marathon Oil by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 813,806 shares of the oil and gas producer's stock valued at $5,428,000 after purchasing an additional 3,742 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Marathon Oil by 4.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 433,302 shares of the oil and gas producer's stock worth $2,890,000 after purchasing an additional 20,409 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Marathon Oil by 2.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 660,778 shares of the oil and gas producer's stock valued at $4,407,000 after acquiring an additional 18,040 shares during the last quarter. Vantage Consulting Group Inc acquired a new position in Marathon Oil in the fourth quarter valued at approximately $25,000. Finally, Stifel Financial Corp lifted its stake in Marathon Oil by 8.5% in the fourth quarter. Stifel Financial Corp now owns 422,650 shares of the oil and gas producer's stock valued at $2,819,000 after buying an additional 33,066 shares during the period. 68.76% of the stock is owned by institutional investors.
MRO opened at $11.87 on Thursday. The company has a market cap of $9.36 billion, a price-to-earnings ratio of -7.15, a price-to-earnings-growth ratio of 0.34 and a beta of 3.25. Marathon Oil has a 1 year low of $3.73 and a 1 year high of $14.33. The stock's 50 day moving average is $12.86. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Wednesday, May 19th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Marathon Oil's previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, May 18th. Marathon Oil's dividend payout ratio (DPR) is currently -13.79%.
Marathon Oil Company Profile
Marathon Oil Corporation operates as an independent exploration and production company in the United States and Equatorial Guinea. 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, as well as owns and operates 32 central gathering and treating facilities and the Sugarloaf gathering system, a 42-mile natural gas pipeline through Karnes and Atascosa Counties.
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