Q2 2024 Earnings Estimate for Marathon Oil Co. Issued By Capital One Financial (NYSE:MRO)

Marathon Oil Co. (NYSE:MRO) – Equities research analysts at Capital One Financial lowered their Q2 2024 earnings per share (EPS) estimates for shares of Marathon Oil in a research note issued to investors on Wednesday, July 3rd. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will earn $0.64 per share for the quarter, down from their previous forecast of $0.68. Capital One Financial currently 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.

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

A number of other equities research analysts also recently issued reports on MRO. Wells Fargo & Company restated an “equal weight” rating and set a $29.00 price objective (down from $38.00) on shares of Marathon Oil in a research report on Friday, May 31st. Morgan Stanley boosted their target price on Marathon Oil from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Scotiabank lifted their price objective on shares of Marathon Oil from $35.00 to $45.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho boosted their price objective on shares of Marathon Oil from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, June 5th. Finally, StockNews.com assumed coverage on shares of Marathon Oil in a report on Wednesday. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Marathon Oil presently has an average rating of “Moderate Buy” and a consensus price target of $32.86.

Marathon Oil Stock Down 1.1 %

Shares of NYSE:MRO opened at $27.89 on Monday. The company has a market cap of $15.73 billion, a price-to-earnings ratio of 11.52 and a beta of 2.19. Marathon Oil has a 12 month low of $21.81 and a 12 month high of $30.06. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $27.43 and a 200 day moving average price of $25.98.

Institutional Trading of Marathon Oil

A number of hedge funds have recently added to or reduced their stakes in MRO. Alps Advisors Inc. purchased a new position in shares of Marathon Oil in the 3rd quarter valued at $345,000. Adage Capital Partners GP L.L.C. purchased a new position in Marathon Oil in the third quarter valued at about $8,846,000. Scotia Capital Inc. bought a new position in Marathon Oil in the third quarter worth about $205,000. Schroder Investment Management Group lifted its position in shares of Marathon Oil by 38.3% during the third quarter. Schroder Investment Management Group now owns 861,864 shares of the oil and gas producer’s stock valued at $23,055,000 after buying an additional 238,664 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Marathon Oil by 221.2% in the 3rd quarter. Baker Avenue Asset Management LP now owns 2,904 shares of the oil and gas producer’s stock valued at $78,000 after buying an additional 2,000 shares in the last quarter. 77.24% of the stock is owned by hedge funds and other institutional investors.

Marathon Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, May 14th. Marathon Oil’s dividend payout ratio (DPR) is presently 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.