Marathon Oil Corp. (NYSE:MRO) was downgraded by analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, AnalystRatings.Net reports. They currently have a $42.00 price target on the stock, down from their previous price target of $45.00. Bank of America Corp.’s price objective indicates a potential upside of 13.88% from the company’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Marathon Oil Corp. in a research note to investors on Thursday, July 25th. They now have a $39.00 price target on the stock. Separately, analysts at Mizuho initiated coverage on shares of Marathon Oil Corp. in a research note to investors on Thursday, July 18th. They set a “buy” rating and a $44.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Marathon Oil Corp. in a research note to investors on Monday, July 1st.
Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.81.
Shares of Marathon Oil Corp. (NYSE:MRO) traded down 3.82% during mid-day trading on Wednesday, hitting $35.47. Marathon Oil Corp. has a one year low of $26.83 and a one year high of $37.87. The stock’s 50-day moving average is currently $36.09. The company has a market cap of $25.142 billion and a P/E ratio of 16.92.
Marathon Oil Corp. (NYSE:MRO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.71 by $0.04. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts predict that Marathon Oil Corp. will post $2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, August 19th. This is a positive change from Marathon Oil Corp.’s previous quarterly dividend of $0.17.
Marathon Oil Corporation (NYSE:MRO) is an international energy company engaged in exploration and production, oil sands mining and integrated gas with operations in the United States, Angola, Canada, Equatorial Guinea.