Brokers Issue Forecasts for Marathon Oil Co.’s Q2 2023 Earnings (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO – Get Rating) – Capital One Financial reduced their Q2 2023 earnings per share estimates for Marathon Oil in a note issued to investors on Sunday, May 21st. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will earn $0.46 per share for the quarter, down from their previous estimate of $0.63. The consensus estimate for Marathon Oil’s current full-year earnings is $2.75 per share. Capital One Financial also issued estimates for Marathon Oil’s Q3 2023 earnings at $0.41 EPS, Q4 2023 earnings at $0.48 EPS, FY2023 earnings at $2.02 EPS, FY2024 earnings at $3.04 EPS and FY2025 earnings at $2.99 EPS.

Marathon Oil (NYSE:MRO – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Marathon Oil had a return on equity of 24.17% and a net margin of 34.22%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 earnings per share.

MRO has been the subject of several other reports. UBS Group initiated coverage on Marathon Oil in a research note on Wednesday, April 19th. They issued a “buy” rating and a $33.00 price target for the company. Benchmark upgraded Marathon Oil from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Thursday, February 16th. Truist Financial upped their target price on Marathon Oil from $34.00 to $39.00 in a research note on Tuesday, April 11th. StockNews.com started coverage on Marathon Oil in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, Morgan Stanley cut their target price on Marathon Oil from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, March 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.06.

Marathon Oil Trading Down 2.9 %

Shares of MRO stock opened at $23.33 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50. The stock has a market cap of $14.41 billion, a P/E ratio of 5.73, a price-to-earnings-growth ratio of 0.43 and a beta of 2.39. The stock has a 50 day simple moving average of $23.69 and a 200 day simple moving average of $26.17. Marathon Oil has a 1 year low of $19.42 and a 1 year high of $33.42.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Prudential PLC increased its position in Marathon Oil by 26.2% in the 4th quarter. Prudential PLC now owns 185,507 shares of the oil and gas producer’s stock valued at $5,022,000 after buying an additional 38,570 shares in the last quarter. General Partner Inc. bought a new stake in Marathon Oil in the 4th quarter valued at about $80,000. Empowered Funds LLC increased its position in Marathon Oil by 432.2% in the 3rd quarter. Empowered Funds LLC now owns 368,708 shares of the oil and gas producer’s stock valued at $8,326,000 after buying an additional 299,429 shares in the last quarter. Profund Advisors LLC increased its position in Marathon Oil by 2.2% in the 4th quarter. Profund Advisors LLC now owns 39,128 shares of the oil and gas producer’s stock valued at $1,059,000 after buying an additional 846 shares in the last quarter. Finally, Gateway Investment Advisers LLC bought a new stake in Marathon Oil in the 4th quarter valued at about $256,000. 77.30% of the stock is owned by institutional investors.

Insider Activity at Marathon Oil

In related news, CAO Rob L. White sold 5,000 shares of the stock in a transaction on Monday, March 27th. The stock was sold at an average price of $22.85, for a total value of $114,250.00. Following the completion of the sale, the chief accounting officer now directly owns 39,344 shares in the company, valued at $899,010.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by company insiders.

Marathon Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Wednesday, May 17th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, May 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.71%. Marathon Oil’s payout ratio is 9.83%.

Marathon Oil Company Profile

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Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S.