Marathon Oil Co. (MRO) to Distribute Quarterly Dividend of $0.11 on December 10th

Marathon Oil Co. (NYSE:MRO) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.11 per share by the oil and gas producer on Tuesday, December 10th. This represents a $0.44 annualized dividend and a yield of 1.59%.

Marathon Oil has increased its dividend by an average of 72.4% annually over the last three years. Marathon Oil has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Oil to earn $2.43 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 18.1%.

Marathon Oil Stock Performance

MRO stock opened at $27.70 on Friday. The firm has a market cap of $15.49 billion, a P/E ratio of 10.78 and a beta of 2.16. The stock’s 50 day simple moving average is $27.30 and its 200 day simple moving average is $27.52. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. Marathon Oil has a 12-month low of $21.81 and a 12-month high of $30.06.

Marathon Oil (NYSE:MRO) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $0.63 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.06). Marathon Oil had a net margin of 22.12% and a return on equity of 13.81%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts predict that Marathon Oil will post 2.41 EPS for the current year.

Insider Transactions at Marathon Oil

In other news, VP Michael A. Henderson sold 38,000 shares of Marathon Oil stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the completion of the sale, the vice president now directly owns 76,828 shares in the company, valued at $2,090,489.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Dane E. Whitehead sold 52,008 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.50, for a total value of $1,430,220.00. Following the completion of the sale, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $2,750,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael A. Henderson sold 38,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the transaction, the vice president now directly owns 76,828 shares in the company, valued at $2,090,489.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MRO. Piper Sandler raised their price target on Marathon Oil from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Truist Financial reduced their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Barclays lowered their target price on Marathon Oil from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Mizuho decreased their price target on Marathon Oil from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company decreased their target price on shares of Marathon Oil from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.12.

Marathon Oil Company Profile

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.