Marathon Oil Corporation (NYSE: MRO): Get Ready For The Next Few Months

In the last trading session, 10.05 million shares of the Marathon Oil Corporation (NYSE:MRO) were traded, and its beta was 2.23. Most recently the company’s share price was $28.57, and it changed around $0.23 or 0.81% from the last close, which brings the market valuation of the company to $16.49B. MRO currently trades at a discount to its 52-week high of $29.56, offering almost -3.47% off that amount. The share price’s 52-week low was $21.63, which indicates that the current value has risen by an impressive 24.29% since then. We note from Marathon Oil Corporation’s average daily trading volume that its 10-day average is 10.01 million shares, with the 3-month average coming to 9.93 million.

Marathon Oil Corporation stock received a consensus recommendation rating of Hold, based on a mean score of 1.78. If we narrow it down even further, the data shows that 2 out of 27 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 13 recommended MRO as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Marathon Oil Corporation is expected to report earnings per share of $0.55 for the current quarter.

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Marathon Oil Corporation (NYSE:MRO) trade information

Instantly MRO has showed a green trend with a performance of 0.81% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 18.25% year-to-date, but still up 5.42% over the last five days. On the other hand, Marathon Oil Corporation (NYSE:MRO) is 17.81% up in the 30-day period. We can see from the shorts that 13.33 million shares have been sold at a short interest cover period of 1.24 day(s).

The consensus price target as assigned by Wall Street analysts is $28.06, which translates to bulls needing to decrease their stock price by -1.82% from its current value. Analyst projections state that MRO is forecast to be at a low of $14 and a high of $48.

Marathon Oil Corporation (MRO) estimates and forecasts

Marathon Oil Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 4.23 percent over the past six months and at a -5.75% annual growth rate that is well below the industry average of 7.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -17.90% in revenue this quarter, and will report an increase of 29.20% in the next quarter. The year-over-year growth rate is expected to be -1.00%, down from the previous year.

Consensus estimates provided by 14 financial analysts predict the company will bring in an average of $1.57 billion in revenue for the current quarter. 14 analysts expect Marathon Oil Corporation to make $1.63 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.68 billion and $1.51 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -6.80%. Forecasts for the next quarter put sales growth at 7.60%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 14.58%. Marathon Oil Corporation earnings are expected to increase by -0.52% in 2024, but the outlook is negative -8.79% per year for the next five years.

MRO Dividends

Marathon Oil Corporation’s next quarterly earnings report is expected to be released around May 01 and May 06. The annual dividend yield of the stock is 1.47 percent and its annual dividend per share was 0.42. It is important to note, however, that the 1.47% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 0.38% of Marathon Oil Corporation shares, and 79.13% of them are in the hands of institutional investors. The stock currently has a share float of 79.44%. Marathon Oil Corporation stock is held by 1,128 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 11.99% of the shares, which is about 72.63 million shares worth $1.67 billion.

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

Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select were the top two Mutual Funds as of Jun 29, 2023. The former held 19.31 million shares worth $444.43 million, making up 3.19% of all outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held roughly 16.81 million shares worth around $443.05 million, which represents about 2.78% of the total shares outstanding.