Marathon Oil Corporation (MRO) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $-0.23 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.25. The company posted revenue of $1302.00 million in the period, compared to analysts expectations of $1076.24 million. The company’s revenue was down -15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.23 EPS.
Many Wall Street Analysts have commented on Marathon Oil Corporation. Company shares were Reiterated by RBC Capital Mkts on Jul 8, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .Marathon Oil Corporation was Upgraded by Raymond James to ” Strong Buy” on Jul 7, 2016. Marathon Oil Corporation was Upgraded by Morgan Stanley to ” Overweight” on Jun 21, 2016.
Marathon Oil Corporation closed down -0.02 points or -0.15% at $12.9 with 1,71,63,597 shares getting traded on Tusday. Post opening the session at $13.12, the shares hit an intraday low of $12.465 and an intraday high of $13.23 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
Investors should note that on Jul 27, 2016, Marathon Oil Corporation announced a cash dividend of $0.0500. The company’s management has announced Aug 15, 2016 as the ex-dividend date and fixed the record date on Aug 17, 2016. The payable date has been fixed on Sep 12, 2016.
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.