Citigroup Inc. Cuts Marathon Oil Corporation (NYSE:MRO) Price Target to $14.00

Marathon Oil Corporation (NYSE:MRO) had its price objective reduced by analysts at Citigroup Inc. from $15.00 to $14.00 in a research note issued to investors on Friday. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Citigroup Inc.’s price target indicates a potential upside of 18.14% from the stock’s previous close.

MRO has been the subject of several other research reports. Bank of America Corporation downgraded shares of Marathon Oil Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $22.00 in a research report on Thursday, May 11th. Vetr raised shares of Marathon Oil Corporation from a “buy” rating to a “strong-buy” rating and set a $18.08 price target for the company in a research report on Friday, April 14th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Marathon Oil Corporation in a research report on Wednesday, June 28th. They issued a “neutral” rating and a $16.00 price target for the company. BidaskClub raised shares of Marathon Oil Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, KLR Group reissued a “buy” rating and issued a $24.00 price target on shares of Marathon Oil Corporation in a research report on Thursday, March 23rd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Marathon Oil Corporation has a consensus rating of “Hold” and an average target price of $17.81.

Shares of Marathon Oil Corporation (NYSE:MRO) opened at 11.85 on Friday. Marathon Oil Corporation has a 12 month low of $11.20 and a 12 month high of $19.28. The stock has a 50 day moving average of $12.02 and a 200-day moving average of $14.86. The company’s market cap is $10.07 billion.

Marathon Oil Corporation (NYSE:MRO) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. Marathon Oil Corporation had a negative net margin of 134.01% and a negative return on equity of 2.54%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm posted ($0.43) EPS. Marathon Oil Corporation’s revenue was up 88.1% compared to the same quarter last year. On average, analysts forecast that Marathon Oil Corporation will post ($0.38) EPS for the current year.

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Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake 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 valued at $1,693,396,000 after buying an additional 105,001,815 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Marathon Oil Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 84,869,602 shares of the oil and gas producer’s stock valued at $1,340,940,000 after buying an additional 2,870,533 shares in the last quarter. State Street Corp boosted its stake in shares of Marathon Oil Corporation by 1.7% in the first quarter. State Street Corp now owns 48,712,386 shares of the oil and gas producer’s stock valued at $769,660,000 after buying an additional 811,608 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Marathon Oil Corporation by 0.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 48,519,793 shares of the oil and gas producer’s stock valued at $766,613,000 after buying an additional 187,090 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Marathon Oil Corporation by 2.7% in the fourth quarter. Macquarie Group Ltd. now owns 25,323,989 shares of the oil and gas producer’s stock valued at $438,358,000 after buying an additional 658,364 shares in the last quarter. Institutional investors and hedge funds own 81.24% 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.

Analyst Recommendations for Marathon Oil Corporation (NYSE:MRO)

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