Marathon Oil Corporation [NYSE: MRO] surged by $0.07 during the normal trading session on Friday and reaching a high of $25.94 during the day while it closed the day at $25.73. The company report on March 30, 2023 that Marathon Oil Announces Agreement to Further Develop Equatorial Guinea Gas Mega Hub.
Marathon Oil Corporation (NYSE: MRO), through its affiliated company Marathon E.G. Holding Limited, announced it has signed a Heads of Agreement (HOA) with the Republic of Equatorial Guinea (E.G.) and Noble Energy E.G. Ltd, a Chevron company, to progress the next phases (Phases II and III) in the development of the Equatorial Guinea Regional Gas Mega Hub (GMH).
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“We are excited about this critical milestone in the ongoing development of Punta Europa as a world-class hub for the monetization of local and regional natural gas,” said Lee Tillman, Marathon Oil Chairman, President, and CEO. “This announcement builds on our successful partnership of more than 20 years with the E.G. Government, further leveraging and extending the life of E.G.’s world-class gas monetization infrastructure, including the critical E.G. LNG facility, into the next decade.”.
Marathon Oil Corporation stock has also gained 0.82% of its value over the past 7 days. However, MRO stock has declined by -6.03% in the 3 months of the year. Over the past six months meanwhile, it has lost -6.23% and lost -4.95% year-on date.
The market cap for MRO stock reached $16.16 billion, with 637.00 million shares outstanding and 627.16 million shares in the current float. Compared to the average trading volume of 10.91M shares, MRO reached a trading volume of 8192225 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Marathon Oil Corporation [MRO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MRO shares is $33.47 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MRO stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Marathon Oil Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 23, 2023. The new note on the price target was released on February 16, 2023, representing the official price target for Marathon Oil Corporation stock. Previously, the target price had yet another raise to $41, while Wells Fargo analysts kept a Overweight rating on MRO stock. On January 24, 2023, analysts increased their price target for MRO shares from 27 to 28.
The Average True Range (ATR) for Marathon Oil Corporation is set at 0.87, with the Price to Sales ratio for MRO stock in the period of the last 12 months amounting to 2.00. The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 0.53. Price to Free Cash Flow for MRO in the course of the last twelve months was 4.30 with Quick ratio for the last quarter at 0.70.
MRO stock trade performance evaluation
Marathon Oil Corporation [MRO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.82. With this latest performance, MRO shares gained by 21.03% in over the last four-week period, additionally sinking by -6.23% over the last 6 months – not to mention a drop of -2.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MRO stock in for the last two-week period is set at 57.70, with the RSI for the last a single of trading hit 61.87, and the three-weeks RSI is set at 54.36 for Marathon Oil Corporation [MRO]. The present Moving Average for the last 50 days of trading for this stock 24.94, while it was recorded at 25.78 for the last single week of trading, and 26.03 for the last 200 days.
Marathon Oil Corporation [MRO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Marathon Oil Corporation [MRO] shares currently have an operating margin of +45.92 and a Gross Margin at +56.42. Marathon Oil Corporation’s Net Margin is presently recorded at +47.90.
Return on Total Capital for MRO is now 21.46, given the latest momentum, and Return on Invested Capital for the company is 22.80. Return on Equity for this stock inclined to 32.71, with Return on Assets sitting at 19.56. When it comes to the capital structure of this company, Marathon Oil Corporation [MRO] has a Total Debt to Total Equity ratio set at 53.29. Additionally, MRO Total Debt to Total Capital is recorded at 34.76, with Total Debt to Total Assets ending up at 30.46. Long-Term Debt to Equity for the company is recorded at 48.88, with the Long-Term Debt to Total Capital now at 31.89.
Reflecting on the efficiency of the workforce at the company, Marathon Oil Corporation [MRO] managed to generate an average of $2,300,637 per employee. Receivables Turnover for the company is 6.59 with a Total Asset Turnover recorded at a value of 0.41.Marathon Oil Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.
Earnings per share (EPS) analysis for Marathon Oil Corporation [MRO] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MRO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Marathon Oil Corporation go to -9.31%.
Marathon Oil Corporation [MRO]: Insider Ownership positions
There are presently around $12,613 million, or 79.30% of MRO stock, in the hands of institutional investors. The top three institutional holders of MRO stocks are: VANGUARD GROUP INC with ownership of 74,255,910, which is approximately -5.849% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 56,915,102 shares of the stock with an approximate value of $1.46 billion in MRO stocks shares; and STATE STREET CORP, currently with $1.17 billion in MRO stock with ownership of nearly -2.952% of the company’s market capitalization.
Positions in Marathon Oil Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 385 institutional holders increased their position in Marathon Oil Corporation [NYSE:MRO] by around 41,512,564 shares. Additionally, 365 investors decreased positions by around 45,102,636 shares, while 125 investors held positions by with 403,581,746 shares. The mentioned changes placed institutional holdings at 490,196,946 shares, according to the latest SEC report filing. MRO stock had 127 new institutional investments in for a total of 6,387,808 shares, while 69 institutional investors sold positions of 6,993,227 shares during the same period.