UBS Cuts Numbers on Marathon Oil (MRO); Maintains 'Buy' on Reiterated Production Guidance

UBS maintains a 'Buy' on Marathon Oil (NYSE: MRO) price target lowered from $40 to $38.

Analyst, William A. Featherson, said, "Clean 1Q EPS/CFPS of $0.67/$1.48 missed UBSe $0.74/$1.85 & consensus’ $0.87/$1.91 on higher int’l E&P taxes (-$0.08/sh vs. UBSe)...We believe MRO’s ‘12 production guidance is conservative given the 1Q beat, Eagle Ford ramp up & PSVM start-up & forecast production (ex. Libya)of 378 MBoed. We revised ’12-’13 EPS/CFPS to $2.95/$7.60 & $2.90/$8.55 from $3.05/$7.90 & $2.65/$8.45 to reflect Libya volume, wider oil difference & a higher international tax rate."

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 $28.88 yesterday.

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