Goldman Sachs Resumes Marathon Oil (MRO) at Neutral

Goldman Sachs resumed coverage on Marathon Oil (NYSE: MRO) with a Neutral rating and a price target of $31.00.

Analyst Brian Singer said, "We view favorably MRO’s acreage positions in the Eagle Ford/Bakken, and although MRO is in the early stages of delineating its SCOOP acreage, early results have been encouraging. Along with Anadarko Petroleum and Noble Energy, we believe MRO is among the better positioned of the international diversified oils in terms of strong shale execution across multiple plays. However, we believe MRO has a below-average resource life versus peers, and average growth/returns. Because of the effect oil prices have on free cash flow, growth and recognition for emerging shale assets, we believe MRO’s performance vs. IDOs may be closely tied to oil prices. We are Neutralrated as we believe its funding gap in a $70-$75/bbl WTI environment offsets its strong shale performance."

For an analyst ratings summary and ratings history on Marathon Oil click here. For more ratings news on Marathon Oil click here.

Shares of Marathon Oil closed at $25.45 yesterday.

You May Also Be Interested In

• TD Cowen Resumes EQT Corp. (EQT) at Hold
• Prysmian SpA (PRY:IM) (PRYMY) PT Raised to EUR53 at HSBC
• B.Riley Resumes QuinStreet, Inc. (QNST) at Buy