Marathon Oil price target raised to $34 from $30 at Susquehanna

Susquehanna analyst Biju Perincheril raised the firm’s price target on Marathon Oil to $34 from $30 and keeps a Positive rating on the shares. The analyst updated estimates for the exploration and production sector ahead of the Q3 reports. The firm maintained its 2024 WTI crude assumption of $80 per barrel while lowering its Henry Hub natural gas price to $3.75/mmbtu from $4. Companies continue with their maintenance capital programs, with improvements in well productivity driving modest production gains, the analyst tells investors in a research note.