Q2 2024 EPS Estimates for Marathon Oil Co. (NYSE:MRO) Reduced by Analyst

Marathon Oil Co. (NYSE:MRO) – Research analysts at Capital One Financial decreased their Q2 2024 earnings per share estimates for Marathon Oil in a note issued to investors on Wednesday, July 3rd. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will earn $0.64 per share for the quarter, down from their previous estimate of $0.68. Capital One Financial has a “Hold” rating on the stock. The consensus estimate for Marathon Oil’s current full-year earnings is $2.85 per share. Capital One Financial also issued estimates for Marathon Oil’s FY2024 earnings at $2.69 EPS, Q1 2025 earnings at $0.67 EPS, Q2 2025 earnings at $0.70 EPS, Q3 2025 earnings at $0.72 EPS, Q4 2025 earnings at $0.73 EPS, FY2025 earnings at $2.82 EPS and FY2026 earnings at $2.75 EPS.

MRO has been the subject of several other reports. The Goldman Sachs Group lifted their price objective on Marathon Oil from $26.50 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Argus raised Marathon Oil from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday, March 14th. Mizuho increased their price objective on shares of Marathon Oil from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Stifel Nicolaus cut their target price on shares of Marathon Oil from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Scotiabank upped their price target on shares of Marathon Oil from $35.00 to $45.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Oil currently has an average rating of “Moderate Buy” and an average price target of $32.86.

Marathon Oil Price Performance

MRO stock opened at $27.89 on Monday. The company has a market cap of $15.73 billion, a price-to-earnings ratio of 11.52 and a beta of 2.19. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $27.43 and a 200-day moving average of $25.98. Marathon Oil has a 12-month low of $21.81 and a 12-month high of $30.06.

Marathon Oil (NYSE:MRO) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. Marathon Oil had a net margin of 21.83% and a return on equity of 13.24%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business earned $0.67 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Marathon Oil by 9.9% in the first quarter. Vanguard Group Inc. now owns 75,751,369 shares of the oil and gas producer’s stock valued at $2,146,794,000 after acquiring an additional 6,835,604 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Marathon Oil by 24.3% in the 4th 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 purchasing an additional 3,795,020 shares in the last quarter. Morgan Stanley grew its holdings in shares of Marathon Oil by 22.6% during the 3rd quarter. Morgan Stanley now owns 11,797,521 shares of the oil and gas producer’s stock worth $315,584,000 after purchasing an additional 2,176,062 shares during the period. Victory Capital Management Inc. increased its position in Marathon Oil by 127.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,527,604 shares of the oil and gas producer’s stock worth $61,067,000 after purchasing an additional 1,415,639 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Marathon Oil by 323.9% in the first quarter. Toronto Dominion Bank now owns 1,369,127 shares of the oil and gas producer’s stock valued at $38,801,000 after buying an additional 1,046,122 shares during the period. Institutional investors and hedge funds own 77.24% of the company’s stock.

Marathon Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were paid a $0.11 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $0.44 annualized dividend and a yield of 1.58%. Marathon Oil’s payout ratio is currently 18.18%.

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.