Marathon Oil Co. (NYSE:MRO) to Post Q1 2024 Earnings of $0.49 Per Share, Zacks Research Forecasts

Marathon Oil Co. (NYSE:MRO) – Zacks Research reduced their Q1 2024 EPS estimates for Marathon Oil in a research report issued to clients and investors on Wednesday, April 17th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas producer will earn $0.49 per share for the quarter, down from their previous estimate of $0.50. The consensus estimate for Marathon Oil’s current full-year earnings is $2.68 per share. Zacks Research also issued estimates for Marathon Oil’s Q1 2026 earnings at $0.63 EPS.

Marathon Oil (NYSE:MRO) last issued its earnings results on Thursday, February 22nd. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Marathon Oil had a net margin of 23.20% and a return on equity of 14.09%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year.

Other analysts also recently issued research reports about the stock. Scotiabank upped their price target on shares of Marathon Oil from $35.00 to $45.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Raymond James reduced their price target on shares of Marathon Oil from $35.00 to $32.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Mizuho upped their price objective on shares of Marathon Oil from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. The Goldman Sachs Group upped their price objective on shares of Marathon Oil from $26.50 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Finally, Barclays assumed coverage on shares of Marathon Oil in a research note on Wednesday, April 10th. They set an “overweight” rating and a $35.00 price objective on the stock. Five equities research 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.66.

Marathon Oil Stock Down 1.0 %

Shares of NYSE MRO opened at $27.39 on Thursday. Marathon Oil has a 12-month low of $21.63 and a 12-month high of $30.06. The company has a market capitalization of $15.65 billion, a PE ratio of 10.70 and a beta of 2.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.40 and a quick ratio of 0.35. The firm’s 50-day moving average is $26.13 and its two-hundred day moving average is $25.34.

Marathon Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, February 20th. Marathon Oil’s payout ratio is currently 17.19%.

Insider Transactions at Marathon Oil

In other news, CEO Lee M. Tillman sold 80,647 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total value of $2,172,630.18. Following the completion of the sale, the chief executive officer now owns 596,330 shares of the company’s stock, valued at $16,065,130.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Dane E. Whitehead sold 73,233 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $27.06, for a total value of $1,981,684.98. Following the completion of the sale, the chief financial officer now owns 152,008 shares of the company’s stock, valued at $4,113,336.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lee M. Tillman sold 80,647 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $26.94, for a total transaction of $2,172,630.18. Following the sale, the chief executive officer now directly owns 596,330 shares of the company’s stock, valued at $16,065,130.20. The disclosure for this sale can be found here. Insiders sold 281,332 shares of company stock valued at $7,644,903 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Marathon Oil

A number of large investors have recently added to or reduced their stakes in MRO. Invesco Ltd. grew its holdings in Marathon Oil by 51.4% during the 3rd quarter. Invesco Ltd. now owns 27,988,152 shares of the oil and gas producer’s stock valued at $748,683,000 after purchasing an additional 9,504,754 shares in the last quarter. Wellington Management Group LLP grew its holdings in Marathon Oil by 1,220.4% during the 1st quarter. Wellington Management Group LLP now owns 8,754,588 shares of the oil and gas producer’s stock valued at $219,828,000 after purchasing an additional 8,091,570 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Marathon Oil by 1,134.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,457,542 shares of the oil and gas producer’s stock valued at $130,763,000 after acquiring an additional 5,015,428 shares during the last quarter. Woodline Partners LP bought a new position in Marathon Oil during the 2nd quarter valued at $89,591,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Marathon Oil by 24.3% during 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 acquiring an additional 3,795,020 shares during the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.

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.