Zacks: Analysts Expect Marathon Oil Corporation (MRO) Will Post Quarterly Sales of $979.56 Million
Equities analysts predict that Marathon Oil Corporation (NYSE:MRO) will announce sales of $979.56 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Marathon Oil Corporation’s earnings, with the highest sales estimate coming in at $1.17 billion and the lowest estimate coming in at $810.12 million. Marathon Oil Corporation posted sales of $1.23 billion in the same quarter last year, which would indicate a negative year over year growth rate of 20.4%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Marathon Oil Corporation will report full-year sales of $979.56 million for the current year, with estimates ranging from $3.48 billion to $5.09 billion. For the next year, analysts anticipate that the firm will report sales of $4.56 billion per share, with estimates ranging from $3.99 billion to $6.10 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Marathon Oil Corporation.
Marathon Oil Corporation (NYSE:MRO) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.10. Marathon Oil Corporation had a negative return on equity of 2.86% and a negative net margin of 140.22%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted ($0.23) earnings per share. The business’s revenue was down 4.0% on a year-over-year basis.
Several equities analysts have commented on the stock. KLR Group reiterated a “buy” rating and set a $23.00 price objective (up previously from $21.00) on shares of Marathon Oil Corporation in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a “hold” rating and set a $14.00 price objective (up previously from $13.00) on shares of Marathon Oil Corporation in a research report on Wednesday, August 9th. Vetr lowered shares of Marathon Oil Corporation from a “strong-buy” rating to a “buy” rating and set a $14.22 price objective for the company. in a research report on Monday, August 7th. BidaskClub upgraded shares of Marathon Oil Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Barclays PLC set a $11.00 price objective on shares of Marathon Oil Corporation and gave the company a “hold” rating in a research report on Friday, August 4th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company. Marathon Oil Corporation has a consensus rating of “Hold” and an average target price of $17.30.
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Shares of Marathon Oil Corporation (NYSE:MRO) opened at 11.63 on Tuesday. Marathon Oil Corporation has a 12-month low of $11.20 and a 12-month high of $19.28. The company’s market capitalization is $9.88 billion. The stock’s 50 day moving average is $11.92 and its 200-day moving average is $14.19.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.72%. The ex-dividend date is Monday, August 14th. Marathon Oil Corporation’s dividend payout ratio is presently -2.55%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Gulf International Bank UK Ltd increased its position in Marathon Oil Corporation by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 261,245 shares of the oil and gas producer’s stock valued at $4,127,000 after buying an additional 3,900 shares in the last quarter. National Pension Service bought a new position in Marathon Oil Corporation during the first quarter valued at approximately $12,622,000. Bank of Montreal Can increased its position in Marathon Oil Corporation by 91.1% in the first quarter. Bank of Montreal Can now owns 2,091,771 shares of the oil and gas producer’s stock valued at $33,050,000 after buying an additional 997,175 shares in the last quarter. Eastern Bank bought a new position in Marathon Oil Corporation during the first quarter valued at approximately $337,000. Finally, Viking Fund Management LLC bought a new position in Marathon Oil Corporation during the first quarter valued at approximately $3,792,000. 80.22% of the stock is currently owned by institutional investors.
About Marathon Oil Corporation
Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.
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