Marathon Oil Corporation, usually simply referred to as Marathon Oil, is an American petroleum and natural gas exploration and production company headquartered in the Marathon Oil Tower in Houston, Texas. Marathon Oil is incorporated in Ohio. Marathon Oil is responsible for 0.19% of global industrial greenhouse gas emissions from 1988 to 2015.

Company profile
Ticker
MRO
Exchange
Website
CEO
Lee M. Tillman
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
USX CORP
SEC CIK
Corporate docs
Subsidiaries
Alba Associates LLC • Alba Equatorial Guinea Partnership, L.P. • Alba Plant LLC • AMPCO Marketing, L.L.C. • AMPCO Services, L.L.C. • Atlantic Methanol Associates LLC • Atlantic Methanol Production Company LLC • E.G. Global LNG Services, Ltd. • Equatorial Guinea LNG Company, S.A. • Equatorial Guinea LNG Holdings Limited ...
IRS number
250996816
MRO stock data
Press releases
Marathon Oil Reports Second Quarter 2022 Results
3 Aug 22
Marathon Oil Corporation Declares Second Quarter 2022 Dividend
27 Jul 22
Automotive Fuel Delivery System Market Expected To Reach $5.29 Billion By 2027
12 Jul 22
Marathon Oil Schedules Second Quarter 2022 Earnings Release and Conference Call
29 Jun 22
Thinking about buying stock in Marathon Oil, Sundial Growers, SoFi Technologies, Intel Corp, or Axsome Therapeutics?
29 Jun 22
Analyst ratings and price targets
Current price
Average target
$31.25
Low target
$24.00
High target
$41.00
Barclays
Maintains
$35.00
Raymond James
Maintains
$35.00
Piper Sandler
Maintains
$41.00
Morgan Stanley
Maintains
$31.00
B of A Securities
Maintains
$25.00
Mizuho
Maintains
$34.00
Goldman Sachs
Maintains
$25.00
Citigroup
Downgraded
$24.00
Calendar
4 Aug 22
9 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
18 May 22 | Whitehead Dane E | Common Stock | Sell | Dispose S | No | No | 28.0295 | 30,291 | 849.04K | 290,934 |
16 May 22 | Whitehead Dane E | Common Stock | Sell | Dispose S | No | No | 28.1818 | 79,711 | 2.25M | 321,225 |
16 May 22 | Whitehead Dane E | Common Stock | Option exercise | Acquire M | No | No | 14.52 | 79,711 | 1.16M | 400,936 |
16 May 22 | Whitehead Dane E | Employee Stock Option Common Stock | Option exercise | Dispose M | No | No | 14.52 | 79,711 | 1.16M | 0 |
31 Mar 22 | Patrick Wagner | Common Stock | Sell | Dispose S | No | No | 25.6311 | 65,218 | 1.67M | 179,566 |
31 Mar 22 | Patrick Wagner | Common Stock | Option exercise | Acquire M | No | No | 14.52 | 65,218 | 946.97K | 244,784 |
31 Mar 22 | Patrick Wagner | Employee Stock Option Common Stock | Option exercise | Dispose M | No | No | 14.52 | 65,218 | 946.97K | 0 |
25 Mar 22 | Tillman Lee M | Common Stock | Sell | Dispose S | No | No | 26.0907 | 270,588 | 7.06M | 1,070,088 |
25 Mar 22 | Tillman Lee M | Common Stock | Option exercise | Acquire M | No | No | 16.79 | 270,588 | 4.54M | 1,340,676 |
25 Mar 22 | Tillman Lee M | Employee Stock Option Common Stock | Option exercise | Dispose M | No | No | 16.79 | 270,588 | 4.54M | 0 |
Institutional ownership, Q1 2022
78.1% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 723 |
Opened positions | 148 |
Closed positions | 69 |
Increased positions | 226 |
Reduced positions | 246 |
13F shares | Current |
---|---|
Total value | 13.9B |
Total shares | 553.02M |
Total puts | 9.66M |
Total calls | 15.45M |
Total put/call ratio | 0.6 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 84.81M | $2.13B |
BLK Blackrock | 54.04M | $1.36B |
STT State Street | 48.34M | $1.21B |
Hotchkis & Wiley Capital Management | 38.37M | $963.39M |
FMR | 20.46M | $513.65M |
IVZ Invesco | 17.82M | $447.41M |
Geode Capital Management | 15.72M | $394.27M |
Dimensional Fund Advisors | 12.63M | $317.08M |
Wellington Management | 8.75M | $219.83M |
Fisher Asset Management | 8.64M | $217.06M |
Financial report summary
?Risks
- A substantial decline in crude oil and condensate, NGLs and natural gas prices would reduce our operating results and cash flows and could adversely impact the carrying value of our assets.
- Estimates of crude oil and condensate, NGLs and natural gas reserves depend on many factors and assumptions, including various assumptions that are based on conditions in existence as of the dates of the estimates. Any material changes in those conditions or other factors affecting those assumptions could impair the quantity and value of our reserves.
- Our operations may be adversely affected by pipeline, rail and other transportation capacity constraints.
- If we acquire crude oil and natural gas properties, our failure to fully identify existing and potential problems, including title problems, to accurately estimate reserves, production rates or costs, or to effectively integrate the acquired properties into our operations could materially and adversely affect our business, financial condition and results of operations.
- Our operations may be affected by Native American treaty, title and other rights or claims.
- Future exploration and drilling results are uncertain and involve substantial costs.
- We operate in a highly competitive industry, and many of our competitors are larger and have available resources in excess of our own.
- We are subject to various climate-related risks, including risks related to the transition to a lower-carbon economy and physical risks resulting from climate change.
- Our offshore operations involve special risks that could negatively impact us.
- If we are unsuccessful in acquiring or finding additional reserves, our future crude oil and condensate, NGLs and natural gas production would decline, thereby reducing our cash flows and results of operations and impairing our financial condition.
- If crude oil and condensate, NGLs and natural gas prices decrease, it could adversely affect the abilities of our counterparties to perform their obligations to us, which could negatively impact our financial results.
- If we are unable to complete capital projects at their expected costs and in a timely manner, or if the market conditions assumed in our project economics deteriorate, our business, financial condition, results of operations and cash flows could be materially and adversely affected.
- Our level of indebtedness may limit our liquidity and financial flexibility.
- Difficulty in accessing capital or a significant increase in our costs of accessing capital could adversely affect our business.
- Our commodity price risk management activities may prevent us from fully benefiting from commodity price increases and may expose us to other risks, including counterparty risk.
- Many of our major projects and operations are conducted jointly with other parties, which may decrease our ability to manage risk.
- We may incur substantial capital expenditures and operating costs, and our production could be adversely affected, as a result of compliance with and changes in law, regulations or requirements or initiatives, including those addressing environmental, health, safety or security or the impact of global climate change, air emissions or water management, and, as a result, our business, financial condition, results of operations and cash flows could be materially and adversely affected.
- The potential adoption of federal, state and local legislative and regulatory initiatives related to hydraulic fracturing could result in increased compliance costs, operating restrictions or delays in the completion of oil and gas wells.
- The potential adoption of federal, state and local legislative and regulatory initiatives intended to address potential induced seismic activity in the areas in which we operate could result in increased compliance costs, operating restrictions or delays in the completion of oil and gas wells.
- Political and economic developments, possible terrorist activities and changes in law or policy in the U.S. or global markets could adversely affect our operations and materially reduce our profitability and cash flows.
- Our business, financial conditions and results of operations have been adversely affected and may continue to be adversely affected by the ongoing COVID-19 global pandemic.
- Mandatory COVID-19 vaccination of employees could impact our workforce and lead to labor disruptions, which could have a material adverse effect on our business and results of operations.
- Our business could be negatively impacted by cyberattacks targeting our computer and telecommunications systems and infrastructure, or targeting those of our third-party service providers.
- Our business may be materially adversely affected by negative publicity.
- Our operations are subject to business interruptions and casualty losses. We do not insure against all potential losses and therefore we could be seriously harmed by unexpected liabilities and increased costs.
- Litigation by private plaintiffs or government officials or entities could adversely affect our performance.
Management Discussion
- Three Months Ended June 30, 2022 vs. Three Months Ended June 30, 2021
- Below is a price/volume analysis for each segment. Refer to the preceding Operations and Market Conditions sections for additional detail related to our net sales volumes and average price realizations.
- Net gain (loss) on commodity derivatives in the second quarter of 2022, was a loss of $27 million, compared to a net loss of $166 million for the same period in 2021. We have multiple crude oil, natural gas and NGL derivative contracts that settle against various indices. We record commodity derivative gains/losses as the index pricing and forward curves change each period. See Note 13 to the consolidated financial statements for further information.
Content analysis
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Readability |
H.S. freshman Good
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New words:
acreage, expiration, heavily, mandatory, monitor, overnight, Schedule, SOFR, sought, workover
Removed:
created, declaration, decommission, involve, judgment, long, seeking, specifically, usage
Financial reports
Current reports
8-K
Marathon Oil Reports Second Quarter 2022 Results
3 Aug 22
8-K
Entry into a Material Definitive Agreement
2 Aug 22
8-K
Submission of Matters to a Vote of Security Holders
31 May 22
8-K
Marathon Oil Reports First Quarter 2022 Results
4 May 22
8-K
Departure of Directors or Certain Officers
11 Mar 22
8-K
Departure of Directors or Certain Officers
28 Feb 22
8-K
Departure of Directors or Certain Officers
22 Feb 22
8-K
Marathon Oil Announces 2022 Capital Budget and Reports Fourth Quarter and Full Year 2021 Results
16 Feb 22
8-K
Marathon Oil Reports Third Quarter 2021 Results
3 Nov 21
8-K
Departure of Directors or Certain Officers
23 Sep 21
Registration and prospectus
S-3ASR
Automatic shelf registration
9 Jan 20
S-8
Registration of securities for employees
30 May 19
S-8 POS
Registration of securities for employees (post-effective amendment)
2 Apr 18
S-8 POS
Registration of securities for employees (post-effective amendment)
2 Apr 18
424B2
Prospectus for primary offering
16 Jul 17
424B5
Prospectus supplement for primary offering
12 Jul 17
FWP
Free writing prospectus
12 Jul 17
FWP
Free writing prospectus
12 Jul 17
S-3ASR
Automatic shelf registration
24 Jan 17
S-8
Registration of securities for employees
24 May 16
Proxies
DEFA14A
Additional proxy soliciting materials
8 Apr 22
DEFA14A
Additional proxy soliciting materials
9 Apr 21
DEFA14A
Additional proxy soliciting materials
29 Apr 20
DEFA14A
Additional proxy soliciting materials
9 Apr 20
DEFA14A
Additional proxy soliciting materials
12 Apr 19
DEF 14A
Definitive proxy
12 Apr 19
DEFA14A
Additional proxy soliciting materials
9 May 18
Other
UPLOAD
Letter from SEC
3 Dec 19
CORRESP
Correspondence with SEC
14 Nov 19
CORRESP
Correspondence with SEC
6 Oct 19
UPLOAD
Letter from SEC
23 Sep 19
UPLOAD
Letter from SEC
23 Jan 17
CORRESP
Correspondence with SEC
14 Dec 16
CORRESP
Correspondence with SEC
15 Nov 16
UPLOAD
Letter from SEC
13 Nov 16
CORRESP
Correspondence with SEC
14 Sep 16
UPLOAD
Letter from SEC
1 Sep 16
Ownership
4
MARATHON OIL / Dane E Whitehead ownership change
20 May 22
4
MARATHON OIL / Dane E Whitehead ownership change
18 May 22
4
MARATHON OIL / PATRICK WAGNER ownership change
1 Apr 22
4
MARATHON OIL / LEE M TILLMAN ownership change
29 Mar 22
4
MARATHON OIL / Michael A Henderson ownership change
24 Mar 22
4
MARATHON OIL / LEE M TILLMAN ownership change
24 Mar 22
4
MARATHON OIL / PATRICK WAGNER ownership change
23 Mar 22
4
MARATHON OIL / PATRICK WAGNER ownership change
10 Mar 22
4
MARATHON OIL / Dane E Whitehead ownership change
10 Mar 22
4
MARATHON OIL / LEE M TILLMAN ownership change
10 Mar 22
Transcripts
2022 Q2
Earnings call transcript
4 Aug 22
2022 Q1
Earnings call transcript
5 May 22
2021 Q4
Earnings call transcript
17 Feb 22
2021 Q3
Earnings call transcript
4 Nov 21
2021 Q2
Earnings call transcript
5 Aug 21
2021 Q1
Earnings call transcript
6 May 21
2020 Q4
Earnings call transcript
23 Feb 21
2020 Q3
Earnings call transcript
5 Nov 20
2020 Q2
Earnings call transcript
6 Aug 20
2020 Q1
Earnings call transcript
7 May 20
Reddit threads
Is the Oil trade over? sell or keep?
4 Aug 22
What's going on with Energy?
4 Aug 22
(8/4) Thursday's Pre-Market Stock Movers & News
4 Aug 22
(8/3) Wednesday's Pre-Market Stock Movers & News
3 Aug 22
Daily Discussion Thread - August 3rd, 2022
3 Aug 22
Tech heavy portfolio with some divy growth. The plan is to keep increasing VOO until is 30% of portfolio, considering dropping Disney. Im trying to keep some growth but trying to balance. Im 22 btw.
2 Aug 22
(8/2) Tuesday's Pre-Market Stock Movers & News
2 Aug 22
Daily Discussion Thread - August 2nd, 2022
2 Aug 22
(8/1) Monday's Pre-Market Stock Movers & News
1 Aug 22
Daily Discussion Thread - August 1st, 2022
1 Aug 22