Market Overview

UPDATE: Societe Generale Raises PT to $36 on Marathon Oil Corporation Post Eagle Ford Update

Share:
Related MRO
Cramer Gives His Opinion On Marathon Oil And New York Community Bancorp
Citi Dishes 6 E&P M&A Candidates
Lots more dividend cuts, equity raises ahead for oil companies, Barclays says (Seeking Alpha)

Societe Generale reiterated its Buy rating on Marathon Oil Corporation (NYSE: MRO) and raised its price target from $32 to $36.

Societe Generale commented, "MRO increased its 2012 volume growth target 2% helped by strong Eagle Ford results and had flat sequential unit costs. Even removing the Paloma acquisition, MRO grew sequential Eagle ford output 66% and demonstrated strong liquids output with the Burrow 2-H 24 hour IP of 6,275 BOE/d. Not every wildcat will work (Innsbruck is still drilling but has yet to find hydrocarbons), but by having an ‘option portfolio' in Kenya, Ethiopia, GOM, and Iraq, MRO can offer shareholders asset value growth beyond NA exploitation."

Marathon Oil Corporation closed at $31.21 on Tuesday.

Latest Ratings for MRO

DateFirmActionFromTo
Jan 2016BarclaysMaintainsOverweight
Jan 2016BarclaysMaintainsOverweight
Jan 2016Atlantic EquitiesDowngradesOverweightNeutral

View More Analyst Ratings for MRO
View the Latest Analyst Ratings

Posted-In: Societe GeneraleAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

Related Articles (MRO)

View Comments and Join the Discussion!

Get Benzinga's Newsletters