Morgan Stanley Boosts Marathon Oil (NYSE:MRO) Price Target to $27.00

Marathon Oil (NYSE:MRO) had its price objective lifted by Morgan Stanley from $26.00 to $27.00 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

Other equities analysts also recently issued reports about the company. Truist Financial boosted their price objective on Marathon Oil from $35.00 to $36.00 and gave the stock a buy rating in a research report on Friday, April 5th. Stifel Nicolaus dropped 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. Piper Sandler dropped their price target on Marathon Oil from $34.00 to $32.00 and set an overweight rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada reissued an outperform rating and set a $33.00 target price on shares of Marathon Oil in a research note on Tuesday, March 5th. Finally, Scotiabank boosted their target price on shares of Marathon Oil from $35.00 to $45.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Oil currently has an average rating of Moderate Buy and a consensus target price of $32.66.

Marathon Oil Stock Performance

Shares of NYSE MRO opened at $27.39 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $26.13 and a 200-day simple moving average of $25.34. The company has a market cap of $15.65 billion, a PE ratio of 10.70 and a beta of 2.22. Marathon Oil has a 12-month low of $21.63 and a 12-month high of $30.06.

Marathon Oil (NYSE:MRO) last issued 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. The business 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%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, equities research analysts forecast that Marathon Oil will post 2.68 EPS for the current year.

Marathon Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, February 20th. Marathon Oil’s dividend payout ratio 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 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 directly owns 140,829 shares in the company, valued at $3,893,921.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Patrick Wagner sold 36,094 shares of the company’s stock in a transaction 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 directly owns 140,829 shares in the company, valued at $3,893,921.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael A. Henderson sold 51,389 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president now owns 114,828 shares of the company’s stock, valued at $3,168,104.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 281,332 shares of company stock worth $7,644,903. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Marathon Oil

A number of hedge funds have recently bought and sold shares of MRO. ICA Group Wealth Management LLC boosted its holdings in Marathon Oil by 92.6% during the first quarter. ICA Group Wealth Management LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 522 shares during the period. Smithfield Trust Co boosted its holdings in Marathon Oil by 367.9% during the third quarter. Smithfield Trust Co now owns 1,020 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 802 shares during the period. NBC Securities Inc. bought a new stake in Marathon Oil during the third quarter valued at about $27,000. Riverview Trust Co bought a new stake in Marathon Oil during the first quarter valued at about $27,000. Finally, Indiana Trust & Investment Management CO bought a new stake in Marathon Oil during the third quarter valued at about $29,000. 77.24% of the stock is currently owned by 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.