Marathon Oil Co. (NYSE:MRO) Forecasted to Post Q2 2024 Earnings of $0.64 Per Share

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Marathon Oil Co. (NYSE:MRO - Free Report) - Research analysts at Capital One Financial cut their Q2 2024 EPS estimates for Marathon Oil in a research note issued on Wednesday, July 3rd. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will post earnings of $0.64 per share for the quarter, down from their previous forecast 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.

A number of other brokerages have also recently commented on MRO. Piper Sandler increased their price target on Marathon Oil from $32.00 to $34.00 and gave the company an "overweight" rating in a research note on Friday, April 19th. Argus upgraded Marathon Oil from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research report on Thursday, March 14th. Morgan Stanley boosted their price target on Marathon Oil from $26.00 to $27.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. Truist Financial dropped their price objective on shares of Marathon Oil from $36.00 to $35.00 and set a "buy" rating for the company in a report on Monday, May 6th. Finally, Stifel Nicolaus reduced their target price on shares of Marathon Oil from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.86.

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Check Out Our Latest Stock Report on Marathon Oil

Marathon Oil Price Performance

Shares of NYSE:MRO opened at $28.18 on Monday. The firm has a 50 day simple moving average of $27.42 and a 200 day simple moving average of $25.95. The company has a market cap of $15.89 billion, a price-to-earnings ratio of 11.64 and a beta of 2.19. Marathon Oil has a one year low of $21.81 and a one year high of $30.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.55 and a quick ratio of 0.48.

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Marathon Oil (NYSE:MRO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Marathon Oil had a return on equity of 13.24% and a net margin of 21.83%. Marathon Oil's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake 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 purchasing an additional 6,835,604 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in 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 buying an additional 3,795,020 shares in the last quarter. Morgan Stanley raised its stake in 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 buying an additional 2,176,062 shares during the period. Victory Capital Management Inc. boosted its holdings in Marathon Oil by 127.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,527,604 shares of the oil and gas producer's stock worth $61,067,000 after acquiring an additional 1,415,639 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake 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 acquiring an additional 1,046,122 shares during the period. Institutional investors and hedge funds own 77.24% of the company's stock.

Marathon Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, May 14th. Marathon Oil's dividend payout ratio (DPR) is 18.18%.

About Marathon Oil

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.

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