Marathon Oil Corporation (MRO) Given a $16.00 Price Target at Royal Bank Of Canada

Royal Bank Of Canada set a $16.00 price target on Marathon Oil Corporation (NYSE:MRO) in a research note released on Wednesday. The brokerage currently has a hold rating on the oil and gas producer’s stock.

A number of other equities research analysts also recently weighed in on MRO. Jefferies Group LLC reaffirmed a hold rating and issued a $12.00 target price on shares of Marathon Oil Corporation in a research note on Friday, October 6th. Scotiabank set a $19.00 target price on shares of Marathon Oil Corporation and gave the company a buy rating in a research note on Saturday, July 1st. Barclays PLC set a $11.00 target price on shares of Marathon Oil Corporation and gave the company a hold rating in a research note on Friday, August 4th. Stifel Nicolaus set a $10.00 target price on shares of Marathon Oil Corporation and gave the company a hold rating in a research note on Thursday, October 5th. Finally, Vetr downgraded shares of Marathon Oil Corporation from a strong-buy rating to a buy rating and set a $14.22 target price on the stock. in a research note on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. Marathon Oil Corporation has an average rating of Hold and an average target price of $17.06.

Shares of Marathon Oil Corporation (NYSE MRO) traded down 0.44% during midday trading on Wednesday, hitting $13.62. 6,863,553 shares of the company traded hands. Marathon Oil Corporation has a 52 week low of $10.55 and a 52 week high of $19.28. The stock’s market capitalization is $11.57 billion. The stock has a 50 day moving average of $12.35 and a 200-day moving average of $13.07.

Marathon Oil Corporation (NYSE:MRO) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Marathon Oil Corporation had a negative net margin of 140.22% and a negative return on equity of 2.86%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. Equities analysts forecast that Marathon Oil Corporation will post ($0.44) earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Marathon Oil Corporation by 4,827.5% in the first quarter. BlackRock Inc. now owns 107,176,902 shares of the oil and gas producer’s stock worth $1,693,396,000 after purchasing an additional 105,001,815 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Marathon Oil Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 86,677,815 shares of the oil and gas producer’s stock worth $1,027,132,000 after purchasing an additional 1,808,213 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Marathon Oil Corporation by 112.6% in the second quarter. Macquarie Group Ltd. now owns 53,832,125 shares of the oil and gas producer’s stock worth $637,911,000 after purchasing an additional 28,514,387 shares during the last quarter. State Street Corp grew its holdings in shares of Marathon Oil Corporation by 2.8% in the second quarter. State Street Corp now owns 50,063,249 shares of the oil and gas producer’s stock worth $593,258,000 after purchasing an additional 1,350,863 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Marathon Oil Corporation by 0.5% in the second quarter. Franklin Resources Inc. now owns 35,334,271 shares of the oil and gas producer’s stock worth $418,709,000 after purchasing an additional 172,691 shares during the last quarter. Hedge funds and other institutional investors own 80.98% of the company’s stock.

About Marathon Oil Corporation

Marathon Oil Corporation is an exploration and production (E&P) company. The Company operates through three segments: North America E&P, International E&P and Oil Sands Mining. The North America E&P segment explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in North America.

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