Global Hunter Securities Upgrades Marathon Oil (MRO) to Accumulate; Lean and Mean
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Price: $36.15 +2.84%
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade MRO Now!
Global Hunter Securities upgraded Marathon Oil (NYSE: MRO) from Neutral to Accumulate with a price target of $31.00 (from $28.00).
Analyst, John Malone, said, "MRO’s net income declined 13% q/q on higher taxes, with EPS at $0.59 per diluted share compared with our $0.65 estimate. The effective tax rate for the quarter was 72%, driven mainly by a dramatic increase in Libyan output, which was up to 44,000 boe/d. Libya drove production up to 407 MBoed compared with our estimate of 370.5 MBoed, and up 21% y/y. Meanwhile, costs declined and MRO is pulling in rigs without apparently cutting into NA growth. We like the direction and see the near-term path as solid and more focused."
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 $26.52 yesterday, with a 52 week range of $19.13-$35.49.
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Analyst, John Malone, said, "MRO’s net income declined 13% q/q on higher taxes, with EPS at $0.59 per diluted share compared with our $0.65 estimate. The effective tax rate for the quarter was 72%, driven mainly by a dramatic increase in Libyan output, which was up to 44,000 boe/d. Libya drove production up to 407 MBoed compared with our estimate of 370.5 MBoed, and up 21% y/y. Meanwhile, costs declined and MRO is pulling in rigs without apparently cutting into NA growth. We like the direction and see the near-term path as solid and more focused."
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 $26.52 yesterday, with a 52 week range of $19.13-$35.49.
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