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RBC Capital Believes Marathon Oil (MRO) Still Has Room to Grow

RBC Capital analyst Scott Hanold maintained a Buy rating on Marathon Oil (MROResearch Report) on January 12 and set a price target of $25.00. The company’s shares closed last Thursday at $18.57, close to its 52-week high of $18.98.

According to TipRanks.com, Hanold is a 5-star analyst with an average return of 17.0% and a 56.7% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Whiting Petroleum Corporation, and Continental Resources.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Marathon Oil with a $21.53 average price target, a 15.4% upside from current levels. In a report issued on January 3, Citigroup also maintained a Buy rating on the stock with a $20.00 price target.

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Based on Marathon Oil’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.44 billion and net profit of $184 million. In comparison, last year the company earned revenue of $761 million and had a GAAP net loss of $317 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRO in relation to earlier this year. Most recently, in December 2021, Gary Eugene Wilson, the VP, Contr & CAO of MRO sold 99,174 shares for a total of $1,622,677.

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Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following two segments: United States (U. S.) and International. The U. S. segment engages in oil and gas exploration, development and production activities in the U.S. The International segment engages in oil and gas development and production across international locations primarily in Equatorial Guinea and the United Kingdom. The company was founded in 1887 and is headquartered in Houston, TX.

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