Marathon Oil Corporation (MRO) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Apr 13, 2016.
Many Wall Street Analysts have commented on Marathon Oil Corporation. Shares were Reiterated by Deutsche Bank on Mar 29, 2016 to “Buy” and Lowered the Price Target to $ 18 from a previous price target of $19 .Shares were Reiterated by RBC Capital Mkts on Feb 19, 2016 to “Sector Perform” and Lowered the Price Target to $ 13 from a previous price target of $15 .Marathon Oil Corporation was Downgraded by Atlantic Equities to ” Neutral” on Jan 27, 2016.
On the company’s financial health, Marathon Oil Corporation reported $-0.48 EPS for the quarter, based on the information available during the earnings call on Feb 17, 2016. Analyst had a consensus estimate of $-0.48. The company had revenue of $1475.00 million for the quarter, compared to analysts expectations of $1264.87 million. The company’s revenue was down -40.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.13 EPS.
Marathon Oil Corporation closed down -0.11 points or -0.93% at $11.67 with 2,43,78,122 shares getting traded on Monday. Post opening the session at $11.92, the shares hit an intraday low of $11.62 and an intraday high of $12.155 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Sep 22, 2015, Patrick Wagner (V.P.-Corporate Development) purchased 5,000 shares at $15.40 per share price. According to the SEC, on Aug 7, 2015, Lee M Tillman (CEO) purchased 25,600 shares at $19.51 per share price.
Marathon Oil Corporation is an energy company based in Houston Texas with operations in North America Europe and Africa. The Company operates in three segments: North America E&P segment which explores for produces and markets crude oil and condensate NGLs and natural gas in North America; International E&P segment which explores for produces and markets crude oil and condensate NGLs and natural gas outside of North America and produces and markets products manufactured from natural gas such as LNG and methanol in Egypt and Oil Sands Mining segment which mines extracts and transports bitumen from oil sands deposits in Alberta Canada and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil. It has production operations in the United States Egypt Canada the United Kingdom and Libya. The focus of its the United States operations is its three core unconventional resource plays including the Eagle Ford Bakken and Oklahoma Resource Basins.