Marathon Oil’s Stable Stability Sheet & Shareholder Returns Immediate 30% Worth Goal Hike By This Analyst
[ad_1]
-
Raymond James analyst John Freeman reiterated a Sturdy Purchase ranking on the shares of Marathon Oil Corp (NYSE: MRO) and raised the worth goal from $37 to $48.
-
The analyst mentioned Q3 earnings had been robust for Marathon, with manufacturing out of Delaware exceeding expectations.
-
Buybacks impressed to the upside as the corporate paid out ~80% of operational money circulation for the quarter, he added.
-
The one miss was on capex, Marathon needed to elevate their steerage from $1.3 billion to $1.4 billion for the yr.
-
Freeman believes Marathon stays in a wonderful place to be a frontrunner in shareholder returns, along with his up to date mannequin projecting a 13% yield on buybacks and a 15% whole yield when accounting for the bottom dividend.
-
The analyst mentioned the corporate has a powerful stability sheet and top-tier return technique.
-
He thinks Marathon represented one of many few corporations in his protection with regular and rising per-share metrics, because of their extremely aggressive buyback program.
-
Freeman specified that the corporate would construct money subsequent yr for debt discount, additional buybacks, and/or extra acquisitions.
-
Worth Motion: MRO shares are buying and selling decrease by 1.42% at $29.96 on the final examine Monday.
Newest Scores for MRO
|
Date |
Agency |
Motion |
From |
To |
|---|---|---|---|---|
|
Mar 2022 |
Benchmark |
Downgrades |
Purchase |
Maintain |
|
Feb 2022 |
Piper Sandler |
Upgrades |
Impartial |
Chubby |
|
Feb 2022 |
Raymond James |
Maintains |
Sturdy Purchase |
View Extra Analyst Scores for MRO
View the Newest Analyst Scores
See extra from Benzinga
Do not miss real-time alerts in your shares – be a part of Benzinga Professional at no cost! Strive the device that can make it easier to make investments smarter, sooner, and higher.
© 2022 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
Source link