MRO - Marathon Oil Hits The Ground Running: Analyst Boosts Forecast Amid Strong Reserve Report | Benzinga
Benchmark analyst Subash Chandra reiterated a Buy rating on the shares of Marathon Oil Corp (NYSE:MRO) and raised the price target from $25 to $32.
The company's reserve report, according to the analyst, confirms a lower cost structure, resilient asset base and multi-basin exposure generating one of the highest FCF yields at $80 oil.
Marathon Oil experienced positive performance revisions and extensions that were 140% of production, said the analyst.
The reserve mix was oilier (49% versus 48% last year), and the cost structure declined.
The analyst noted that 70% ...