Marathon Oil price target lowered to $35 from $38 at Truist

Truist lowered the firm’s price target on Marathon Oil to $35 from $38 and keeps a Buy rating on the shares after its Q4 results. The firm sees little change to Marathon’s stable domestic activity with the Eagle Ford and Bakken remaining primary drivers along with continued DE Basin and moderate OK activity, the analyst tells investors in a research note. Truist adds that it sees 2024 production to remain relatively flat despite the net well count potentially dropping at a high single-digit rate vs year-ago levels.