Wall Street brokerages forecast that Marathon Oil Co. (NYSE:MRO) will report $1.43 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Marathon Oil’s earnings. The highest sales estimate is $1.50 billion and the lowest is $1.36 billion. Marathon Oil reported sales of $1.06 billion in the same quarter last year, which would suggest a positive year over year growth rate of 34.9%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, August 1st.
On average, analysts expect that Marathon Oil will report full year sales of $6.17 billion for the current fiscal year, with estimates ranging from $5.77 billion to $6.61 billion. For the next financial year, analysts anticipate that the firm will post sales of $6.27 billion per share, with estimates ranging from $5.63 billion to $6.87 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Marathon Oil.
Marathon Oil (NYSE:MRO) last announced its quarterly earnings results on Wednesday, May 2nd. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Marathon Oil had a negative net margin of 7.56% and a negative return on equity of 0.50%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm posted ($0.07) earnings per share. The company’s revenue for the quarter was up 61.7% on a year-over-year basis.
A number of equities research analysts have recently issued reports on MRO shares. JPMorgan Chase & Co. raised shares of Marathon Oil from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Monday, March 26th. ValuEngine raised shares of Marathon Oil from a “strong sell” rating to a “sell” rating in a report on Thursday, March 22nd. Stifel Nicolaus set a $19.00 price target on shares of Marathon Oil and gave the stock a “hold” rating in a report on Wednesday, March 28th. Royal Bank of Canada set a $21.00 price target on shares of Marathon Oil and gave the stock a “hold” rating in a report on Friday, April 13th. Finally, Tudor Pickering raised shares of Marathon Oil from a “hold” rating to a “buy” rating in a report on Friday, June 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.11.
In related news, insider Lee M. Tillman sold 400,000 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $21.65, for a total value of $8,660,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of MRO. Dupont Capital Management Corp grew its position in Marathon Oil by 40.2% during the first quarter. Dupont Capital Management Corp now owns 9,859 shares of the oil and gas producer’s stock valued at $159,000 after acquiring an additional 2,829 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Marathon Oil by 0.3% during the first quarter. Asset Management One Co. Ltd. now owns 1,284,275 shares of the oil and gas producer’s stock valued at $20,716,000 after acquiring an additional 3,235 shares during the last quarter. Boulegeris Investments Inc. grew its position in Marathon Oil by 5.7% during the fourth quarter. Boulegeris Investments Inc. now owns 65,995 shares of the oil and gas producer’s stock valued at $1,117,000 after acquiring an additional 3,566 shares during the last quarter. Mackenzie Financial Corp grew its position in Marathon Oil by 42.7% during the fourth quarter. Mackenzie Financial Corp now owns 15,715 shares of the oil and gas producer’s stock valued at $266,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in Marathon Oil during the first quarter valued at approximately $102,000. Institutional investors own 78.64% of the company’s stock.
Shares of Marathon Oil opened at $20.86 on Friday, Marketbeat.com reports. Marathon Oil has a 12-month low of $10.55 and a 12-month high of $22.12. The stock has a market capitalization of $18.10 billion, a PE ratio of -54.89, a PEG ratio of 1.68 and a beta of 2.33. The company has a current ratio of 1.52, a quick ratio of 1.46 and a debt-to-equity ratio of 0.46.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Wednesday, May 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Tuesday, May 15th. Marathon Oil’s dividend payout ratio (DPR) is -52.63%.
Marathon Oil Company Profile
Marathon Oil Corporation operates as an energy company in the United States, Equatorial Guinea, the United Kingdom, and Libya. It operates in two segments, United States E&P and International E&P. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.
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