Morgan Stanley Raises Marathon Oil (NYSE:MRO) Price Target to $26.00

Marathon Oil (NYSE:MRO) had its target price increased by Morgan Stanley from $24.00 to $26.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas producer’s stock. Morgan Stanley’s target price points to a potential downside of 8.16% from the stock’s current price.

Several other research analysts also recently weighed in on the company. The Goldman Sachs Group upped their target price on Marathon Oil from $26.50 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday. Mizuho boosted their price target on Marathon Oil from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $33.00 price target on shares of Marathon Oil in a research report on Tuesday, March 5th. Raymond James dropped 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. Finally, Piper Sandler dropped their price target on Marathon Oil from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Oil currently has an average rating of “Moderate Buy” and a consensus target price of $31.68.

Marathon Oil Stock Up 2.2 %

MRO traded up $0.60 on Thursday, hitting $28.31. The company had a trading volume of 7,712,865 shares, compared to its average volume of 9,883,961. Marathon Oil has a 12-month low of $21.63 and a 12-month high of $29.56. The stock has a market capitalization of $16.34 billion, a price-to-earnings ratio of 11.04 and a beta of 2.21. The stock has a fifty day moving average price of $24.15 and a 200-day moving average price of $25.09. 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 (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, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Marathon Oil had a return on equity of 14.09% and a net margin of 23.20%. Marathon Oil’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. Analysts predict that Marathon Oil will post 2.46 EPS for the current fiscal year.

Insider Transactions at Marathon Oil

In related news, VP Michael A. Henderson sold 51,389 shares of the stock in a transaction dated Monday, March 25th. The stock was 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 of the company’s stock, valued at approximately $3,168,104.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Marathon Oil news, CEO Lee M. Tillman sold 80,647 shares of the 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 owns 596,330 shares of the company’s stock, valued at approximately $16,065,130.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Henderson sold 51,389 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $27.59, for a total value of $1,417,822.51. Following the sale, the vice president now directly owns 114,828 shares in the company, valued at approximately $3,168,104.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,238 shares of company stock worth $6,646,904. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marathon Oil

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nomura Holdings Inc. purchased a new position in Marathon Oil during the 4th quarter worth approximately $454,000. HighPoint Advisor Group LLC purchased a new position in Marathon Oil during the 4th quarter worth approximately $401,000. Quadrature Capital Ltd purchased a new position in Marathon Oil during the 4th quarter worth approximately $6,837,000. Livelsberger Financial Advisory purchased a new position in Marathon Oil during the 4th quarter worth approximately $47,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Marathon Oil in the 4th quarter valued at approximately $3,866,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

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.