Q2 2024 EPS Estimates for Marathon Oil Co. (NYSE:MRO) Boosted by Zacks Research

Marathon Oil Co. (NYSE:MRO) – Research analysts at Zacks Research upped their Q2 2024 earnings estimates for Marathon Oil in a report released on Wednesday, April 17th. Zacks Research analyst N. Choudhury now forecasts 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.

MRO has been the topic of a number of other reports. Benchmark increased their price target on shares of Marathon Oil from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Argus raised shares of Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Thursday, March 14th. Barclays started coverage on shares of Marathon Oil in a report on Wednesday, April 10th. They set an “overweight” rating and a $35.00 price objective on the stock. Piper Sandler decreased their price objective on shares of Marathon Oil from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. Finally, Truist Financial increased their price objective on shares of Marathon Oil from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marathon Oil has a consensus 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 Friday. The company’s fifty day moving average price is $26.13 and its 200 day moving average price is $25.34. Marathon Oil has a 1 year low of $21.63 and a 1 year high of $30.06. The company has a market capitalization of $15.65 billion, a PE ratio of 10.70 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 (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, topping analysts’ consensus estimates of $0.62 by $0.07. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year.

Marathon Oil Announces Dividend

The business also recently declared 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. This represents a $0.44 dividend on an annualized basis 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 presently 17.19%.

Insider Buying and Selling at Marathon Oil

In other news, CFO Dane E. Whitehead sold 73,233 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $27.06, for a total value of $1,981,684.98. Following the completion of the transaction, the chief financial officer now owns 152,008 shares of the company’s stock, valued at $4,113,336.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Lee M. Tillman sold 80,647 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $2,172,630.18. Following the completion of the transaction, the chief executive officer now owns 596,330 shares of the company’s stock, valued at $16,065,130.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Dane E. Whitehead sold 73,233 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $27.06, for a total transaction of $1,981,684.98. Following the completion of the transaction, the chief financial officer now directly owns 152,008 shares of the company’s stock, valued at approximately $4,113,336.48. 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. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. TradeLink Capital LLC purchased a new position in Marathon Oil in the first quarter worth approximately $781,000. D.A. Davidson & CO. acquired a new position in shares of Marathon Oil in the 1st quarter valued at $209,000. Great West Life Assurance Co. Can increased its holdings in shares of Marathon Oil by 6.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 160,065 shares of the oil and gas producer’s stock valued at $4,192,000 after acquiring an additional 10,388 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Marathon Oil in the 1st quarter valued at $206,000. Finally, Cibc World Market Inc. increased its holdings in shares of Marathon Oil by 7.4% in the 1st quarter. Cibc World Market Inc. now owns 187,679 shares of the oil and gas producer’s stock valued at $4,713,000 after acquiring an additional 12,859 shares during the period. Hedge funds and other institutional investors own 77.24% of the company’s stock.

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.