Wells Fargo & Co Increases Marathon Oil (NYSE:MRO) Price Target to $21.00

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Marathon Oil (NYSE:MRO) had its price objective increased by Wells Fargo & Co from $20.00 to $21.00 in a research note published on Friday, September 20th, BenzingaRatingsTable reports. Wells Fargo & Co currently has an outperform rating on the oil and gas producer’s stock.

Several other equities analysts have also issued reports on the stock. TheStreet lowered shares of Marathon Oil from a b- rating to a c+ rating in a report on Wednesday, July 10th. Capital One Financial upgraded shares of Marathon Oil from an equal weight rating to an overweight rating in a report on Thursday, May 23rd. Seaport Global Securities reiterated a buy rating on shares of Marathon Oil in a report on Friday, June 21st. Evercore ISI set a $21.00 target price on shares of Marathon Oil and gave the stock a hold rating in a report on Wednesday, August 7th. Finally, ValuEngine upgraded shares of Marathon Oil from a strong sell rating to a sell rating in a report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $21.22.

NYSE:MRO traded up $0.34 during mid-day trading on Friday, reaching $11.74. The stock had a trading volume of 9,596,379 shares, compared to its average volume of 13,876,541. The stock has a 50-day simple moving average of $12.20 and a two-hundred day simple moving average of $14.13. The stock has a market capitalization of $9.00 billion, a PE ratio of 16.54, a P/E/G ratio of 1.90 and a beta of 2.26. Marathon Oil has a 12 month low of $11.06 and a 12 month high of $21.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.09 and a quick ratio of 1.06.

Marathon Oil (NYSE:MRO) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Marathon Oil had a net margin of 16.15% and a return on equity of 6.32%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Equities analysts expect that Marathon Oil will post 0.74 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NuWave Investment Management LLC grew its position in Marathon Oil by 268.8% during the 2nd quarter. NuWave Investment Management LLC now owns 1,763 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 1,285 shares during the last quarter. Rational Advisors LLC lifted its stake in shares of Marathon Oil by 268.8% in the 2nd quarter. Rational Advisors LLC now owns 1,763 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 1,285 shares during the period. North Star Investment Management Corp. acquired a new position in shares of Marathon Oil in the 3rd quarter valued at $25,000. Meridian Wealth Management LLC acquired a new position in shares of Marathon Oil in the 1st quarter valued at $33,000. Finally, Liberty Wealth Management LLC acquired a new position in shares of Marathon Oil in the 2nd quarter valued at $33,000. 82.84% of the stock is owned by hedge funds and other institutional investors.

About Marathon Oil

Marathon Oil Corporation operates as an energy company in the United States, Equatorial Guinea, the United Kingdom, and Libya. It operates in two segments, United States and International. The company engages in the exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas; and the production and marketing of products manufactured from natural gas, such as liquefied natural gas and methanol.

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