Marathon Oil (MRO - Free Report) just released its Q2 2016 earnings results, posting earnings of -$0.23 per share and revenue of $1.3 billion.
Currently, Marathon has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Marathon:
Beat earnings estimates. The company posted earnings of -$0.23 per share (Excluding $0.03 from non-recurring items), beating our Zacks Consensus Estimate of -$0.24.
Beat revenue estimates. The company saw revenue figures of $1.3 billion, beating our estimate of $1.19 billion.
Second quarter total company production averaged 384,000 net boed, in line with guidance; U.S. resource play production averaged 189,000 net boed.
"Within six weeks of announcing our acquisition of high-quality assets in the STACK oil window, we've already closed the transaction and will accelerate an additional rig on this acreage in the third quarter while still decreasing our 2016 capital budget. This deal expands our inventory and further positions Marathon Oil for growth in Oklahoma at a competitive valuation. Coupled with recent non-core divestitures, we're delivering on our objective to further concentrate our capital allocation to the lower cost, higher margin U.S. resource plays," said Marathon Oil President and CEO Lee Tillman.
MRO was down $0.12, or 0.89%, to $13.30 as of 4:58 p.m. EDT in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Marathon’s latest earnings performance:
Marathon Oil Corporation is an exploration and production company with extensive operations across four core regions - Africa, Middle East, Europe and North America
Check back later for our full analysis on Marathon’s latest quarterly earnings report!
If you want information on how to trade during earnings season, check out the Zacks Market Edge Podcast below.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Marathon Oil (MRO - Free Report) just released its Q2 2016 earnings results, posting earnings of -$0.23 per share and revenue of $1.3 billion.
Currently, Marathon has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Marathon:
Beat earnings estimates. The company posted earnings of -$0.23 per share (Excluding $0.03 from non-recurring items), beating our Zacks Consensus Estimate of -$0.24.
Beat revenue estimates. The company saw revenue figures of $1.3 billion, beating our estimate of $1.19 billion.
Second quarter total company production averaged 384,000 net boed, in line with guidance; U.S. resource play production averaged 189,000 net boed.
"Within six weeks of announcing our acquisition of high-quality assets in the STACK oil window, we've already closed the transaction and will accelerate an additional rig on this acreage in the third quarter while still decreasing our 2016 capital budget. This deal expands our inventory and further positions Marathon Oil for growth in Oklahoma at a competitive valuation. Coupled with recent non-core divestitures, we're delivering on our objective to further concentrate our capital allocation to the lower cost, higher margin U.S. resource plays," said Marathon Oil President and CEO Lee Tillman.
MRO was down $0.12, or 0.89%, to $13.30 as of 4:58 p.m. EDT in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Marathon’s latest earnings performance:
Marathon Oil Corporation is an exploration and production company with extensive operations across four core regions - Africa, Middle East, Europe and North America
Check back later for our full analysis on Marathon’s latest quarterly earnings report!
If you want information on how to trade during earnings season, check out the Zacks Market Edge Podcast below.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on MRO - FREE