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Market Update (NYSE:MRO): Marathon Oil Announces Public Offering of Common Stock

[GlobeNewswire] – HOUSTON, Feb. 29, 2016– Marathon Oil Corporation announced today that it intends to offer, subject to market and other conditions, a public offering of 135,000,000 shares of its common stock. In connection … Read more on this. Marathon Oil Corporation (MRO) , with a current market cap of $5.56B, opened at $8.49. Today, shares have traded between $7.97 and $8.53 per share with its 52-week range being $6.52 to $31.53. Priced at -5.95x this year’s forecasted earnings, MRO shares are relatively inexpensive compared to the industry’s -2.94x forward p/e ratio. The company pays shareholders $0.20 per share in dividend income per year, for a current yield of 2.71%. According to a consensus of 14 analysts, the earnings estimate of $-0.51 per share would be $0.00 better than the year-ago quarter and a $0.00 sequential increase. What we find to be interesting is that the full-year EPS estimate of $-1.35 is a $0.07 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.02 Billion. If reported, that would be a 33.33% decrease over the year-ago quarter. In terms of ratings, Atlantic Equities downgraded MRO from Overweight to Neutral (Jan 27, 2016). Previously, Morgan Stanley downgraded MRO from Overweight to Equal-Weight. Investors should keep in mind is that the average price target is $14.35, which is 69.02% above where the stock opened this morning. See more in (NYSE:MRO) Similar Articles: Stock Update (NYSE:MRO): Marathon Oil Corporation Declares Fourth Quarter 2015 Dividend Market Update (NYSE:MRO): Marathon Oil Schedules Third Quarter 2015 Earnings Release and Conference Call Market Update (NYSE:MRO): Gaurdie Banister elected to Marathon Oil Corporation Board of Directors
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