Marathon Oil (MRO) Set to Announce Earnings on Wednesday

Posted by Defense World Staff on Apr 26th, 2023

Marathon Oil (NYSE:MRO – Get Rating) will be releasing its earnings data after the market closes on Wednesday, May 3rd. Analysts expect Marathon Oil to post earnings of $0.69 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Marathon Oil (NYSE:MRO – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. Marathon Oil had a net margin of 44.95% and a return on equity of 27.07%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. On average, analysts expect Marathon Oil to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Marathon Oil Trading Down 4.0 %

NYSE:MRO opened at $23.74 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.48. Marathon Oil has a 52 week low of $19.42 and a 52 week high of $33.42. The firm has a market capitalization of $14.79 billion, a P/E ratio of 4.57, a P/E/G ratio of 0.42 and a beta of 2.39. The company has a fifty day moving average of $24.59 and a 200 day moving average of $27.08.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup raised shares of Marathon Oil from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, March 23rd. Evercore ISI assumed coverage on shares of Marathon Oil in a report on Thursday, January 5th. They set an “outperform” rating on the stock. Wells Fargo & Company dropped their price target on shares of Marathon Oil from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, February 21st. Truist Financial increased their price objective on shares of Marathon Oil from $34.00 to $39.00 in a research note on Tuesday, April 11th. Finally, Raymond James increased their price objective on shares of Marathon Oil from $43.00 to $48.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Oil currently has a consensus rating of “Moderate Buy” and an average price target of $33.76.

Insider Activity at Marathon Oil

In related news, CAO Rob L. White sold 5,000 shares of the firm’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $22.85, for a total value of $114,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,344 shares of the company’s stock, valued at $899,010.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in Marathon Oil by 0.8% during the first quarter. State Street Corp now owns 48,341,531 shares of the oil and gas producer’s stock worth $1,213,856,000 after buying an additional 392,821 shares during the period. Wellington Management Group LLP boosted its stake in shares of Marathon Oil by 1,220.4% during the first quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock valued at $219,828,000 after purchasing an additional 8,091,570 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Marathon Oil by 60.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,739,802 shares of the oil and gas producer’s stock valued at $194,346,000 after purchasing an additional 2,904,140 shares during the period. First Trust Advisors LP boosted its stake in shares of Marathon Oil by 35.3% during the first quarter. First Trust Advisors LP now owns 7,026,775 shares of the oil and gas producer’s stock valued at $176,442,000 after purchasing an additional 1,835,182 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Marathon Oil by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,244,950 shares of the oil and gas producer’s stock valued at $156,812,000 after purchasing an additional 93,786 shares during the period. 77.30% of the stock is owned by hedge funds and other institutional investors.

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.