Marathon Oil’s Stable Stability Sheet & Shareholder Returns Immediate 30% Worth Goal Hike By This Analyst

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  • Raymond James analyst John Freeman reiterated a Sturdy Purchase ranking on the shares of Marathon Oil Corp (NYSE: MRO) and raised the worth goal from $37 to $48.

  • The analyst mentioned Q3 earnings had been robust for Marathon, with manufacturing out of Delaware exceeding expectations.

  • Buybacks impressed to the upside as the corporate paid out ~80% of operational money circulation for the quarter, he added.

  • The one miss was on capex, Marathon needed to elevate their steerage from $1.3 billion to $1.4 billion for the yr.

  • Freeman believes Marathon stays in a wonderful place to be a frontrunner in shareholder returns, along with his up to date mannequin projecting a 13% yield on buybacks and a 15% whole yield when accounting for the bottom dividend.

  • The analyst mentioned the corporate has a powerful stability sheet and top-tier return technique.

  • He thinks Marathon represented one of many few corporations in his protection with regular and rising per-share metrics, because of their extremely aggressive buyback program.

  • Freeman specified that the corporate would construct money subsequent yr for debt discount, additional buybacks, and/or extra acquisitions.

  • Worth Motion: MRO shares are buying and selling decrease by 1.42% at $29.96 on the final examine Monday.

Newest Scores for MRO

Date

Agency

Motion

From

To

Mar 2022

Benchmark

Downgrades

Purchase

Maintain

Feb 2022

Piper Sandler

Upgrades

Impartial

Chubby

Feb 2022

Raymond James

Maintains

Sturdy Purchase

View Extra Analyst Scores for MRO

View the Newest Analyst Scores

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