Morningstar

Marathon Oil Corp MRO

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Stock XNYS Rating as of
$26.48 +0.61 (2.36%)
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As of Delayed Price Closed

Company Report

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Marathon Earnings: Gassier Production Mix Weighs on Earnings

Joshua Aguilar,

No-moat Marathon posted results below median PitchBook estimates, with earnings per share of $0.63 versus consensus estimates of $0.69. We attribute the earnings miss to a decline in natural gas prices and realizations, combined with a gassier production mix that occurred in the quarter. Given the impending merger with ConocoPhillips involves equity financing, we reduced our fair value estimate to $27 from $29 per share related to declines in Conoco’s share price.

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Price vs Fair Value

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MRO is trading at a 167% premium.
Price
$26.48
Fair Value
$99.00
Uncertainty
High
1-Star Price
$33.72
5-Star Price
$52.10
Economic Moat
Stsp
Capital Allocation
Zznjvssl

Bulls Say, Bears Say

Bulls

Marathon's acreage in the Bakken and Eagle Ford plays overlaps the juiciest "sweet spots" and enables the firm to deliver initial production rates far above the respective averages.

Bears

Not all of Marathon's acreage is ideally located and well productivity could decline when the firm runs out of drilling opportunities in sweet spots.

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News

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Trading Information

Previous Close Price
$25.87
Day Range
$25.97–26.54
52-Week Range
$21.81–30.06
Bid/Ask
$26.12 / $26.65
Market Cap
$14.81 Bil
Volume/Avg
4.3 Mil / 5.9 Mil

Key Statistics

Price/Earnings (Normalized)
9.46
Price/Sales
2.36
Dividend Yield (Trailing)
1.66%
Dividend Yield (Forward)
1.66%
Total Yield
20.47%

Company Profile

Marathon is an independent exploration and production company primarily focusing on unconventional resources in the United States. At the end of 2023, the company reported net proved reserves of 1.1 billion barrels of oil equivalent. Net production averaged 405 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 70% oil and NGLs and 30% natural gas.
Sector
Energy
Industry
Oil & Gas E&P
Stock Style Box
Mid Value
Total Number of Employees
1,681
Website
https://www.marathonoil.com

Competitors

Valuation

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Metric
MRO
OXY
EOG
Price/Earnings (Normalized)
 9.4614.2310.27
Price/Book Value
 1.321.942.39
Price/Sales
 2.361.802.95
Price/Cash Flow
 3.854.305.90
Price/Earnings
MRO
OXY
EOG

Financial Strength

Metric
MRO
OXY
EOG
Quick Ratio
 0.500.591.75
Current Ratio
 0.571.042.12
Interest Coverage
 6.946.7964.03
Quick Ratio
MRO
OXY
EOG

Profitability

Metric
MRO
OXY
EOG
Return on Assets (Normalized)
 7.71%4.68%16.79%
Return on Equity (Normalized)
 13.60%15.67%26.29%
Return on Invested Capital (Normalized)
 10.60%7.97%22.59%
Return on Assets
MRO
OXY
EOG

Oil & Gas E&P Industry Comparables

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1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
ConocoPhillips
COP
MbfxqkqnGtncft$121.6 Bil
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EOG
ZdxbndcdtqZyhpxzr$69.6 Bil
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FANG
YfwhmpngvjTzjlfqh$50.0 Bil
 Occidental Petroleum Corp
OXY
KvrztvxxZzhpp$46.8 Bil
 Hess Corp
HES
FjtzydxvwnLssghdm$41.2 Bil
 Devon Energy Corp
DVN
PxvgstvjkgLyrmpvk$24.4 Bil
 EQT Corp
EQT
TssdvhbMgp$21.7 Bil
 APA Corp
APA
PbwbdbptmFpxfq$9.1 Bil
 Antero Resources Corp
AR
KqkydrqsCngq$8.9 Bil

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