5.79 +0.10 (1.76%)
Pre-Market: 8:00AM EDT
|Bid||5.78 x 38800|
|Ask||5.81 x 21500|
|Day's Range||5.25 - 5.69|
|52 Week Range||3.02 - 14.70|
|Beta (5Y Monthly)||3.46|
|PE Ratio (TTM)||17.73|
|Earnings Date||Aug. 05, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb. 18, 2020|
|1y Target Est||6.94|
Domestic drillers may continue to lower rigs in oil patches since global energy demand has declined drastically owing to the coronavirus pandemic.
Marathon Oil (NYSE: MRO) is one of the many oil and gas producers feeling the impact of lower crude prices. CEO Lee Tillman stated that while "we are truly in uncharted waters," Marathon is "determined and confident that we will emerge from this correction, a healthier company with an improved cost structure and ample financial flexibility." While that lower spending level, and the associated reduction in its drilling activities, will cause its production to slide over the near term, Marathon expects volumes to begin improving by the fourth quarter.
Missed the slew of shale oil earnings? Here's a quick run-through of how some of the bigwigs fared in their first-quarter earnings reports.
Marathon Oil's (MRO) U.S. production costs summed $4.63 per BOE, 11.1% lower year over year and the lowest since the company became a standalone E&P entity.
Marathon Oil (MRO) delivered earnings and revenue surprises of -23.08% and 20.42%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Oil prices managed to return to positive territory by Monday’s afternoon trading in New York, but could have trouble staying there after an industry regulator for Texas declared “dead” a plan to cut output in the largest oil-producing state in the U.S. Forecasts that the Energy Information Administration will report fairly largely weekly builds for crude, gasoline and distillates in its routine dataset due on Wednesday could also weigh on the more-than-60% recovery seen on the West Texas Intermediate crude benchmark over the past four sessions. U.K.-traded Brent, the global benchmark for oil, was up 10 cents, or 0.4%, at $26.54.
Solid operating efficiency at Marathon Oil's (MRO) US resource basin division, which is responsible for above 75% of its total output, is likely to have aided Q1 earnings.
Marathon Oil (MRO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Those holding Marathon Oil (NYSE:MRO) shares must be pleased that the share price has rebounded 40% in the last thirty...
The Railroad Commission of Texas, which oversees oil and gas companies, delayed a vote on controversial production cuts demanded by midsized shale oil drillers such as Parsley Energy (NYSE:PE) and Pioneer Natural Resources (NYSE:PXD) but opposed by big energy firms such as ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX) and Marathon Oil (NYSE:MRO). Oil bears, riding on the fever-pitch negative sentiment in crude since Monday’s historic subzero prices, pounded the West Texas Intermediate’s June contract by 54%, or $11.30, to $9.15 per barrel by 1:58 PM ET (17:58 GMT). Analysts said the events in oil over the past 24 hours have made pricing energy risk virtually impossible.
Today we'll look at Marathon Oil Corporation (NYSE:MRO) and reflect on its potential as an investment. Specifically...
Crude prices tumbled 10% Tuesday as OPEC’s plan for deep global cuts in output ran into resistance in Texas where some drillers in the largest U.S. oil producing state balked at making more reductions than they deemed necessary. Expectations that the government will report on Wednesday large and all-round builds in crude, gasoline and distillates stockpiles for last week also weighed on prices. West Texas Intermediate, the New York-traded benchmark for U.S. crude, settled down $2.30, or 10.3%, at $20.11 per barrel.
Domestic drillers may continue to lower rigs in oil patches since global energy demand declined drastically owing to the coronavirus pandemic.
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses hammered by the coronavirus outbreak. In what is likely to be its largest rescue effort ever, the Fed said it would work with banks to offer 4-year loans to companies of up to 10,000 employees and directly buy bonds of states and more populous counties and cities. The financial index rose 6.09%, providing the biggest boost to the S&P 500 as banks rose sharply on the Fed's backstop.