Reasons why Marathon Oil Corporation’s (NYSE:MRO) fundamentals are futile

In yesterday’s Wall Street session, Marathon Oil Corporation (NYSE:MRO) shares traded at $28.06, down -0.95% from the previous session.

MRO stock price is now 2.00% away from the 50-day moving average and 5.54% away from the 200-day moving average. The market capitalization of the company currently stands at $15.70B.

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With the price target reduced from $45 to $29, Scotiabank Downgraded its rating from Sector Outperform to Sector Perform for Marathon Oil Corporation (NYSE: MRO). On April 10, 2024, Barclays recently initiated its ‘Overweight’ rating on the stock quoting a target price of $35, while ‘Argus’ rates the stock as ‘Buy’

In other news, Whitehead Dane E, insider sold 52,008 shares of the company’s stock on Sep 18 ’24. The stock was sold for $1,430,251 at an average price of $27.50. Upon completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $2.81 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 18 ’24, Officer Whitehead Dane E bought 52,008 shares of the business’s stock. A total of $1,430,253 was incurred on buying the stock at an average price of $27.50. A total of 0.36% of the company’s stock is owned by insiders.

During the past 12 months, Marathon Oil Corporation has had a low of $21.81 and a high of $30.06. As of last week, the company has a debt-to-equity ratio of 0.47, a current ratio of 0.57, and a quick ratio of 0.52. According to the stock market information, the enterprise value for the company is $20907298816, which is based on a 10.96 price-to-earnings ratio, a 10.96 price-to-earnings-growth ratio, and a beta of 2.17. The fifty day moving average price for MRO is $27.5096 and a two-hundred day moving average price translates $26.58815 for the stock.

The latest earnings results from Marathon Oil Corporation (NYSE: MRO) was released for 2024-06-30. The net profit margin was 22.80% and return on equity was 13.33% for MRO. The company reported revenue of $1.67 billion for the quarter, compared to $1.48 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.26 percent. For the current quarter, analysts expect MRO to generate $1.75B in revenue.

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