Analysts Set Marathon Oil Price Target at $34.12 (NYSE:MRO)

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. The price decreased by -1.86 points or -3.3% which made the investors to buy on weakness.

Several research analysts have weighed in on the stock.

Marathon Petroleum, unlike other refiners, failed to benefit from a 50 percent drop in global crude prices in the past year. The shares were sold at an average price of $44.59, for a total value of $312,130.00. Finally, RBC Capital reiterated a “top pick” rating and issued a $67.00 price objective (up previously from $62.00) on shares of Marathon Petroleum Corp in a research note on Tuesday, July 14th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. Analysts at Oppenheimer lowered their price target on shares of Whiting Petroleum Corp from $47.00 to $41.00 and set an “outperform” rating on the stock in a research note on Monday, July 20th.

Shares of Marathon Oil (NYSE:MRO) opened at 21.59 on Thursday. The company’s 50-day moving average is $38.54 and its 200 day moving average is $38.49.

“Second quarter results reflect a solid performance across our operating platform”, said Gary R. Heminger, President and CEO of Marathon Petroleum, in a press release.

Net income attributable to Marathon Petroleum fell to $826 million, or $1.51 per share, in the quarter ended June 30 from $855 million, or $1.48 per share, a year earlier.

Analysts polled by Thomson Reuters expected a per-share profit of $1.76 and revenue of $19.29 billion. They last posted EPS of $-0.37 for the quarter ending 2015-03-31. In the past year 13 out of 39 recommendations or 33% were successful.

In looking at the long term growth prospects of the company, sell-side analysts have a consensus mean earnings per share estimate for the current year of $-1.88.

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company with its operations in the United States, Middle East/North Africa and Latin America. The Company operates in three business segments: Exploration and Production Segment, explores for, produces and markets liquid hydrocarbons and natural gas on a worldwide basis; Oil sands mining segment, mines, extracts and transports bitumen from oil sands deposits in Alberta, Canada, and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil, and integrated gas, produces and markets products manufactured from natural gas, such as LNG and methanol, in E.G. The focus of its the United States operations is its three core unconventional resource plays, like the Eagle Ford, Bakken and Oklahoma Resource Basins.