Marathon Oil Corporation [MRO] Revenue clocked in at $6.41 billion, up 17.30% YTD: What’s Next?

Marathon Oil Corporation [NYSE: MRO] surged by $0.63 during the normal trading session on while it closed the day at $28.34. The company report on March 26, 2024 at 5:00 PM that Marathon Oil Corporation Announces Pricing of Offering of $600 Million of Senior Notes Due 2029 and $600 Million of Senior Notes Due 2034.

Marathon Oil Corporation (NYSE: MRO) (the “Company”) announced today that it has priced an offering of senior notes in an aggregate amount of $1.2 billion, consisting of $600 million principal amount of its 5.300% Senior Notes due 2029 and $600 million principal amount of its 5.700% Senior Notes due 2034.

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The Company intends to use the net proceeds from the offering, together with cash on hand, to fund the repayment in full of outstanding borrowings under the Company’s term loan facility. The offering is expected to close on March 28, 2024, subject to customary closing conditions.

Marathon Oil Corporation stock has also gained 4.19% of its value over the past 7 days. However, MRO stock has inclined by 14.04% in the 3 months of the year. Over the past six months meanwhile, it has gained 3.47% and gained 17.30% year-on date.

The market cap for MRO stock reached $16.36 billion, with 577.00 million shares outstanding and 574.90 million shares in the current float. Compared to the average trading volume of 9.87M shares, MRO reached a trading volume of 11367629 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 $31.90 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 1.78. 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.

Argus have made an estimate for Marathon Oil Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 14, 2024. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $27 to $25. The new note on the price target was released on December 11, 2023, representing the official price target for Marathon Oil Corporation stock. Previously, the target price had yet another raise to $25, while Goldman analysts kept a Neutral rating on MRO stock.

The Average True Range (ATR) for Marathon Oil Corporation is set at 0.52, with the Price to Sales ratio for MRO stock in the period of the last 12 months amounting to 2.55. The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 0.27. Price to Free Cash Flow for MRO in the course of the last twelve months was 8.06 with Quick ratio for the last quarter at 0.35.

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 4.19. With this latest performance, MRO shares gained by 17.50% in over the last four-week period, additionally plugging by 3.47% over the last 6 months – not to mention a rise of 21.79% 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 84.44, with the RSI for the last a single of trading hit 89.15, and the three-weeks RSI is set at 78.40 for Marathon Oil Corporation [MRO]. The present Moving Average for the last 50 days of trading for this stock 24.25, while it was recorded at 27.63 for the last single week of trading, and 25.10 for the last 200 days.

Marathon Oil Corporation [MRO]: An insightful look at the core fundamentals

Marathon Oil Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.35 and a Current Ratio set at 0.40.

Earnings per share (EPS) analysis for Marathon Oil Corporation [MRO] stock

With the latest financial reports released by the company, Marathon Oil Corporation posted 0.67/share EPS, while the average EPS was predicted by analysts to be reported at 0.6/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.70%. 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 -8.79%.

Marathon Oil Corporation [MRO]: Institutional Ownership

The top three institutional holders of MRO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MRO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MRO stock with ownership which is approximately 5.8325%.

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