Invesco Advisers, Inc. recently announced the acquisition of new stake in Marathon Oil Corporation (NYSE:MRO). The institutional investor has increased its shareholding in the Energy company by 17.38% to 9.5 million shares with purchase of 1.41 million shares. This fresh investment now brings its stake to 1.40% valued currently at $289.3 million. In addition, Northern Trust Investments, Inc. raised its holdings by 0.26 million to 9.31 million shares. And Wellington Management Co. LLP has lifted its position by 0.17% or 15891.0 shares – to 9.28 million shares.
With over 14.09 million Marathon Oil Corporation (MRO) shares trading Monday and a closing price of $30.04 on the day, the dollar volume was approximately $423.13 million. The shares have shown a positive half year performance of 6.79% and its price on 11/21/22 lost nearly -2.47%. Currently, there are 670.00M common shares owned by the public and among those 634.03M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for MRO have a consensus price objective of $33.67. The analysts have set the share’s price value over the next 12 months at a high of $42.00 and a low of $26.00. The average price target is 10.3% above its recent price level and a downside to the estimated low will see the stock lose -15.54% over that period. But an upside of 28.48% will see the stock hit the forecast high price target while median target price for the stock is $32.50.
Insiders at the company have transacted a total of 99 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 2,359,697 shares. Insider sales of the common stock occurred on 59 occasions, with total insider shares sold totaling 2,711,962 shares.
The top 3 mutual fund holders in Marathon Oil Corporation are Vanguard Total Stock Market Index, SPDR Series – Energy Select Secto, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 20.33 million shares of the company’s stock, all valued at over $619.16 million. The company bought an additional 0.13 million shares recently to bring their total holdings to about 3.00% of the shares outstanding. SPDR Series – Energy Select Secto bought 2083.0 shares to see its total holdings expand to 19.82 million shares valued at over $603.46 million and representing 2.93% of the shares outstanding. Vanguard 500 Index Fund bought 0.15 million shares to bring its total holdings to over 15.5 million shares at a value of $472.09 million. Vanguard 500 Index Fund now owns shares totaling to 2.29% of the shares outstanding.
Shares of Marathon Oil Corporation (NYSE: MRO) opened at $29.84, down -$0.96 from a prior closing price of $30.80. However, the script later moved the day high at 30.08, down -2.47%. The company’s stock has a 5-day price change of -7.57% and 16.84% over the past three months. MRO shares are trading 82.95% year to date (YTD), with the 12-month market performance up to 96.21% higher. It has a 12-month low price of $14.29 and touched a high of $33.42 over the same period. MRO has an average intraday trading volume of 13.44 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.78%, 6.90%, and 17.62% respectively.
Institutional ownership of Marathon Oil Corporation (NYSE: MRO) shares accounts for 79.20% of the company’s 670.00M shares outstanding. Mutual fund holders own 31.66%, while other institutional holders and individual stakeholders account for 42.78% and 0.87% respectively.
It has a market capitalization of $19.39B and a beta (3y monthly) value of 2.48. The stock’s trailing 12-month PE ratio is 5.78, while the earnings-per-share (ttm) stands at $5.20. The company has a PEG of 0.27 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.07% over the week and 3.71% over the month.
Analysts forecast that Marathon Oil Corporation (MRO) will achieve an EPS of $1.22 for the current quarter, $1.12 for the next quarter and $4.15 for 2023. The lowest estimate earnings-per-share for the quarter is $1.08 while analysts give the company a high EPS estimate of $1.58. Comparatively, EPS for the current quarter was $0.39 a year ago. Earnings per share for the fiscal year are expected to increase by 165.50%, and -13.43% over the next financial year. EPS should grow at an annualized rate of 21.07% over the next five years, compared to 19.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Marathon Oil Corporation (MRO) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 9 of the 27 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the MRO, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on October 19, 2022, with the firm’s price target at $30. Citigroup coverage for the Marathon Oil Corporation (MRO) stock in a research note released on June 24, 2022 offered a Neutral rating with a price target of $24. Piper Sandler on their part issued Overweight rating on February 23, 2022.