UPDATE: Benchmark Establishes PT for Marathon Oil

According to a research report published today, Benchmark has established a PT of $31 for Marathon Oil Corporation (NYSE: MRO).

“Pursuant to Benchmark's policy that all HOLD-rated stocks have a price target, we are assigning a $31 per share price target to the shares of Marathon Oil. The fair value price target is based upon a closer alignment to our $25.33 per share normalized ($70 oil) net asset value estimate, adjusted for a modest increment (above acquisition cost) for the Company's Eagle Ford shale interests. At this level, the normalized ($70 oil) cash flow multiple would be more closely and justifiably aligned with the peer group average,” Benchmark said in the report.

Marathon Oil is currently trading at $34.27.