Marathon Oil Co. (MRO) To Go Ex-Dividend on November 15th

Marathon Oil Co. (NYSE:MRO) declared a quarterly dividend on Wednesday, October 30th,RTT News reports. Investors of record on Friday, November 15th will be paid a dividend of 0.11 per share by the oil and gas producer on Tuesday, December 10th. This represents a $0.44 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, November 15th.

Marathon Oil has increased its dividend by an average of 72.4% per year over the last three years. Marathon Oil has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Oil to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.2%.

Marathon Oil Stock Down 1.1 %

Shares of NYSE MRO opened at $28.31 on Wednesday. The firm has a market cap of $15.84 billion, a PE ratio of 12.15 and a beta of 2.16. Marathon Oil has a 12-month low of $21.81 and a 12-month high of $30.06. The company’s fifty day simple moving average is $27.25 and its 200 day simple moving average is $27.53. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Marathon Oil (NYSE:MRO) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Marathon Oil had a net margin of 19.73% and a return on equity of 12.80%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. As a group, sell-side analysts forecast that Marathon Oil will post 2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MRO. Scotiabank increased their price objective on Marathon Oil from $27.61 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on Marathon Oil from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Truist Financial lowered their price objective on Marathon Oil from $35.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, September 30th. StockNews.com started coverage on Marathon Oil in a research report on Thursday, November 7th. They set a “buy” rating for the company. Finally, Barclays decreased their price target on Marathon Oil from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Marathon Oil presently has an average rating of “Moderate Buy” and an average target price of $31.12.

Insider Buying and Selling at Marathon Oil

In other Marathon Oil news, VP Michael A. Henderson sold 38,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the sale, the vice president now owns 76,828 shares in the company, valued at $2,090,489.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Michael A. Henderson sold 38,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $27.21, for a total transaction of $1,033,980.00. Following the transaction, the vice president now owns 76,828 shares in the company, valued at $2,090,489.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dane E. Whitehead sold 52,008 shares of Marathon Oil stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $27.50, for a total value of $1,430,220.00. Following the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $2,750,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Marathon Oil Company Profile

Marathon Oil Corporation, an independent exploration and production company, engages in exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas in the United States and internationally. The company also produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol.