Marathon Oil Co. (NYSE:MRO) Forecasted to Post Q3 2019 Earnings of $0.11 Per Share
Marathon Oil Co. (NYSE:MRO) – Research analysts at Piper Jaffray Companies cut their Q3 2019 earnings estimates for shares of Marathon Oil in a note issued to investors on Thursday, August 15th. Piper Jaffray Companies analyst R. Todd now anticipates that the oil and gas producer will post earnings of $0.11 per share for the quarter, down from their previous estimate of $0.14. Piper Jaffray Companies also issued estimates for Marathon Oil’s Q4 2019 earnings at $0.14 EPS.
Several other brokerages have also recently weighed in on MRO. Evercore ISI set a $21.00 price target on shares of Marathon Oil and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Royal Bank of Canada set a $21.00 price objective on Marathon Oil and gave the company a “buy” rating in a report on Friday, August 9th. Atlantic Securities downgraded Marathon Oil from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $20.50 to $15.00 in a report on Thursday, June 13th. TheStreet downgraded Marathon Oil from a “b-” rating to a “c+” rating in a report on Wednesday, July 10th. Finally, Capital One Financial raised Marathon Oil from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Marathon Oil presently has a consensus rating of “Buy” and a consensus target price of $22.06.
Marathon Oil (NYSE:MRO) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.12. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Marathon Oil had a net margin of 16.15% and a return on equity of 6.32%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS.
A number of institutional investors have recently made changes to their positions in MRO. Harvest Fund Management Co. Ltd lifted its holdings in shares of Marathon Oil by 41.6% during the second quarter. Harvest Fund Management Co. Ltd now owns 4,826 shares of the oil and gas producer’s stock worth $69,000 after buying an additional 1,419 shares in the last quarter. Luminus Management LLC lifted its holdings in shares of Marathon Oil by 1,362.3% during the second quarter. Luminus Management LLC now owns 77,500 shares of the oil and gas producer’s stock worth $1,101,000 after buying an additional 72,200 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Marathon Oil by 57.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 152,915 shares of the oil and gas producer’s stock worth $2,171,000 after buying an additional 55,486 shares in the last quarter. Phocas Financial Corp. acquired a new stake in shares of Marathon Oil during the second quarter worth $2,394,000. Finally, United Services Automobile Association lifted its holdings in shares of Marathon Oil by 5.2% during the second quarter. United Services Automobile Association now owns 364,522 shares of the oil and gas producer’s stock worth $5,180,000 after buying an additional 18,090 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, August 20th. Marathon Oil’s payout ratio is presently 28.17%.
About Marathon Oil
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 and International. 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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