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Why Investors Should Stick to Marathon Oil Corporation (NYSE: MRO) Stock in 2023

In the last trading session, 8.81 million Marathon Oil Corporation (NYSE:MRO) shares changed hands as the company’s beta touched 2.37. With the company’s per share price at $26.90 changed hands at $0.02 or 0.07% during last session, the market valuation stood at $16.57B. MRO’s last price was a discount, traded about -24.24% off its 52-week high of $33.42. The share price had its 52-week low at $20.57, which suggests the last value was 23.53% up since then. When we look at Marathon Oil Corporation’s average trading volume, we note the 10-day average is 11.62 million shares, with the 3-month average coming to 11.39 million.

Analysts gave the Marathon Oil Corporation (MRO) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 1 out of 29 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 6 recommended MRO as a Hold, 19 felt it is a Buy and 2 rated the stock as Underweight. Marathon Oil Corporation’s EPS for the current quarter is expected to be $0.62.

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Marathon Oil Corporation (NYSE:MRO) trade information

Instantly MRO was in green as seen at the end of in last trading. With action 2.83%, the performance over the past five days has been green. The jump to weekly highs of 27.63 on Monday, 09/18/23 added 0.07% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.63%, with the 5-day performance at 2.83% in the green. However, in the 30-day time frame, Marathon Oil Corporation (NYSE:MRO) is 3.46% up. Looking at the short shares, we see there were 9.66 million shares sold at short interest cover period of 0.98 days.

The consensus price target for the stock as assigned by Wall Street analysts is $33.15, meaning bulls need an upside of 18.85% from its current market value. According to analyst projections, MRO’s forecast low is $26.00 with $45.00 as the target high. To hit the forecast high, the stock’s price needs a -67.29% plunge from its current level, while the stock would need to tank 3.35% for it to hit the projected low.

Marathon Oil Corporation (MRO) estimates and forecasts

Data shows that the Marathon Oil Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 26.89% over the past 6 months, a -43.97% in annual growth rate that is considerably lower than the industry average of -21.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Marathon Oil Corporation will fall -50.00%, while the growth in revenue is estimated to hit -18.20% for the next quarter. Year-over-year growth is forecast to reach -19.00% down from the last financial year.

Consensus estimates given by 14 financial analysts project the company’s revenue in the current quarter to hit an average of $1.67 billion. 14 analysts are of the opinion that Marathon Oil Corporation’s revenue for the quarter ending Dec 2023 will be $1.71 billion. The company’s revenue for the corresponding quarters a year ago was $2.25 billion and $1.73 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -25.80%. The estimates for the next quarter sales put growth at -1.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 48.30%. The 2023 estimates are for Marathon Oil Corporation earnings to increase by 338.00%, but the outlook for the next 5-year period is at -8.79% per year.

MRO Dividends

Marathon Oil Corporation is expected to release its next quarterly earnings report between October 31 and November 06. The 1.49% annual yield figure for the share gives it an annual dividend of 0.40. It is important to note, however, that the 1.49% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Marathon Oil Corporation (NYSE:MRO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.41% of Marathon Oil Corporation shares while 79.78% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 80.11%. There are 79.78% institutions holding the Marathon Oil Corporation stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 11.99% of the shares, roughly 72.63 million MRO shares worth $1.67 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 8.22% or 49.76 million shares worth $1.15 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. With 19.31 million shares estimated at $444.43 million under it, the former controlled 3.19% of total outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held about 2.78% of the shares, roughly 16.81 million shares worth around $441.58 million.

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