In a report released yesterday, Joseph Bachmann from Scotiabank maintained a Buy rating on Marathon Oil (NYSE: MRO), with a price target of $23. The company’s shares closed yesterday at $14.43.
According to TipRanks.com, Bachmann is a 1-star analyst with an average return of -3.6% and a 43.1% success rate. Bachmann covers the Basic Materials sector, focusing on stocks such as Evolution Petroleum Corp, Approach Resources Inc, and Jagged Peak Energy Inc.
Currently, the analyst consensus on Marathon Oil is Moderate Buy and the average price target is $19.45, representing a 34.8% upside.
In a report issued on May 5, Jefferies also reiterated a Buy rating on the stock with a $22 price target.
Based on Marathon Oil’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $907 million and GAAP net loss of $4.96 billion. In comparison, last year the company earned revenue of $773 million and had a GAAP net loss of $407 million.
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Marathon Oil Corp. engages in the exploration, production, and marketing of liquid hydrocarbons and natural gas. It operates through the following segments: North America E&P, International E&P, and Oil Sands Mining. The North America E&P segment engages in the explores for, produces, and markets crude oil and condensate, natural gas liquids (NGL), and natural gas in the United States. The International E&P segment involves exploration, production, and marketing of crude oil and condensate, NGL and natural gas outside of North America; and production and marketing of products manufactured from natural gas such as liquefied natural gas and methanol in Equatorial Guinea. The Oil Sands segment includes mining, extraction, and transport of bitumen from oil sands deposits in Alberta, Canada, and the upgrade of bitumen to produce and market synthetic crude oil and vacuum gas oil. The company was founded in 1887 and is headquartered in Houston, TX.