Marathon Oil (NYSE:MRO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks.com reports. The brokerage currently has a $25.00 price objective on the oil and gas producer’s stock. Zacks Investment Research‘s price target indicates a potential upside of 16.55% from the stock’s current price.
According to Zacks, “Marathon Oil shares have outperformed the Zacks Oil & Gas U.S. Exploration & Production industry over a year (+118.9% versus +86.7%) and poised for further capital appreciation. In particular, Marathon’s robust operational metrics suggest strong long-term cash flows that should support higher price points for the shares. The wells drilled by Marathon have extremely low oil price breakeven costs and need oil prices of just $35 a barrel to be profitable. Marathon continues to cut down costs substantially and is striving to achieve a 30% decrease in production and G&A costs in 2021 compared to the 2019 levels. Further, the company’s significant debt maturities mostly fall after 2025 and as such there does not appear to be much risk here. Consequently, Marathon is viewed a preferred upstream energy firm to own.”
Other research analysts have also issued reports about the company. Barclays lifted their target price on Marathon Oil from $18.00 to $20.00 in a report on Tuesday, January 25th. Mizuho decreased their target price on Marathon Oil from $24.00 to $23.00 in a report on Monday, January 3rd. Raymond James lifted their target price on Marathon Oil from $25.00 to $27.00 and gave the company a “strong-buy” rating in a report on Thursday, November 11th. Citigroup lifted their price target on Marathon Oil from $17.00 to $20.00 in a report on Monday, January 3rd. Finally, Piper Sandler lifted their price target on Marathon Oil from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, October 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $19.69.
This guide will help you identify and execute an options trading strategy that fits your specific needs and risk profile.
Take your trading to the next level with the Options Strategy Guide.
Shares of Marathon Oil stock traded down $0.05 on Monday, reaching $21.45. The company had a trading volume of 225,773 shares, compared to its average volume of 18,952,785. The firm’s 50 day moving average price is $17.43 and its two-hundred day moving average price is $15.10. The firm has a market cap of $16.70 billion, a PE ratio of -358.11, a PEG ratio of 0.60 and a beta of 2.82. Marathon Oil has a 52-week low of $8.06 and a 52-week high of $22.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 0.99.
In related news, CAO Gary Eugene Wilson sold 99,174 shares of Marathon Oil stock in a transaction dated Tuesday, December 7th. The stock was sold at an average price of $16.37, for a total transaction of $1,623,478.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick Wagner sold 62,157 shares of Marathon Oil stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $16.83, for a total value of $1,046,102.31. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of MRO. Blueshift Asset Management LLC acquired a new position in shares of Marathon Oil in the 3rd quarter valued at about $2,675,000. Public Sector Pension Investment Board lifted its position in Marathon Oil by 65.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 123,554 shares of the oil and gas producer’s stock worth $1,683,000 after acquiring an additional 48,770 shares in the last quarter. Dupont Capital Management Corp lifted its position in Marathon Oil by 45.8% during the 3rd quarter. Dupont Capital Management Corp now owns 197,160 shares of the oil and gas producer’s stock worth $2,695,000 after acquiring an additional 61,918 shares in the last quarter. California Public Employees Retirement System lifted its position in Marathon Oil by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 1,828,455 shares of the oil and gas producer’s stock worth $24,995,000 after acquiring an additional 26,752 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Marathon Oil by 1.4% during the 3rd quarter. Fisher Asset Management LLC now owns 7,458,741 shares of the oil and gas producer’s stock worth $101,961,000 after acquiring an additional 104,846 shares in the last quarter. 73.22% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Oil Company Profile
Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Marathon Oil, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Marathon Oil wasn’t on the list.
While Marathon Oil currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.