Marathon Oil profit misses estimates on lower oil, gas prices [Reuters]
Marathon Oil Corporation (MRO)
Last marathon oil corporation earnings: 2/12 04:30 pm
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Source: Reuters
Marathon Oil profit misses estimates on lower oil, gas prices (Reuters) - Marathon Oil Corp’s ( MRO.N ) quarterly profit missed analysts’ estimates on Wednesday, as tumbling oil and gas prices more than offset the benefits of robust U.S. shale production. Marathon’s results mirrored weaker earnings across the sector, as prices of global crude fell in the quarter on oversupply and demand concerns, fueled by fears of slowing global economic growth. The company said average realized prices for crude oil and condensate in the United States fell 2.1% to $54.83 per barrel. The company, which expects its 2020 capital budget to be $2.4 billion, forecast U.S. oil production growth of 6% in 2020. For the first quarter, Marathon forecast U.S. oil production between 192,000 barrels of oil per day (bopd) and 202,000 bpd. The company added that its 2020 international gas production would be impacted by scheduled maintenance activity in Equatorial Guinea during the fourth quarter. Total production
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News
- Marathon Oil Co. (NYSE: MRO) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $32.00 price target on the stock.MarketBeat
- Marathon Oil (MRO) Gains But Lags Market: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Marathon Oil Co. (NYSE: MRO) had its "positive" rating re-affirmed by analysts at Susquehanna. They now have a $33.00 price target on the stock.MarketBeat
- Marathon Oil Co. (NYSE: MRO) had its price target raised by analysts at Piper Sandler from $32.00 to $34.00. They now have an "overweight" rating on the stock.MarketBeat
- Why Marathon Oil (MRO) is a Top Momentum Stock for the Long-Term [Yahoo! Finance]Yahoo! Finance
MRO
Earnings
- 2/21/24 - Beat
MRO
Sec Filings
- 4/10/24 - Form ARS
- 4/10/24 - Form DEFA14A
- 4/10/24 - Form DEF
- MRO's page on the SEC website