Recent Insider Transactions • Nov 23
Insider recently sold US$1.0m worth of stock On the 19th of November, Patrick Wagner sold around 36k shares on-market at roughly US$28.84 per share. This transaction amounted to 47% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.4m. Insiders have been net sellers, collectively disposing of US$11m more than they bought in the last 12 months. Reported Earnings • Nov 07
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: US$0.51 (down from US$0.75 in 3Q 2023). Revenue: US$1.79b (up 1.0% from 3Q 2023). Net income: US$287.0m (down 37% from 3Q 2023). Profit margin: 16% (down from 26% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 07
Marathon Oil Corporation Provides Production Guidance for the Fourth Quarter of 2024 and Raises Production Guidance for the Year 2024 Marathon Oil Corporation provided production guidance for the fourth quarter of 2024 and raised production guidance for the year 2024. The company expects fourth quarter oil production to moderate to approximately 190,000 net bopd, consistent with the phasing of its capital program and the associated sequential reduction in wells to sales, similar to the prior two years.
The company raised full-year 2024 total oil production guidance to 192,000 net bopd and oil equivalent guidance to 393,000 net boed, while leaving the original full-year 2024 capital spending guidance range unchanged. Updated production guidance compares to prior oil and oil equivalent guidance midpoints of 190,000 net bopd and 390,000 net boed, respectively. Declared Dividend • Nov 03
Second quarter dividend of US$0.11 announced Dividend of US$0.11 is the same as last year. Ex-date: 15th November 2024 Payment date: 10th December 2024 Dividend yield will be 1.6%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 18% over the next 3 years. However, it would need to fall by 81% to increase the payout ratio to a potentially unsustainable range. Announcement • Oct 31
Marathon Oil Corporation Declares Third Quarter 2024 Dividend, Payable on December 10, 2024 Marathon Oil Corporation announced that the company's board of directors has declared a dividend of 11 cents per share on the company’s common stock for the third quarter 2024. The dividend is payable on December 10, 2024, to stockholders of record on November 15, 2024. Announcement • Oct 24
Marathon Oil Corporation to Report Q3, 2024 Results on Nov 06, 2024 Marathon Oil Corporation announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 Recent Insider Transactions • Sep 23
Insider recently sold US$1.4m worth of stock On the 18th of September, Dane Whitehead sold around 52k shares on-market at roughly US$27.50 per share. This transaction amounted to 76% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$13m more than they bought in the last 12 months. Recent Insider Transactions • Sep 12
Executive Vice President of Operations recently sold US$1.0m worth of stock On the 6th of September, Michael Henderson sold around 38k shares on-market at roughly US$27.21 per share. This transaction amounted to 88% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Michael has been a net seller over the last 12 months, reducing personal holdings by US$3.1m. Recent Insider Transactions Derivative • Sep 09
Executive Vice President of Operations notifies of intention to sell stock Michael Henderson intends to sell 38k shares in the next 90 days after lodging an Intent To Sell Form on the 6th of September. If the sale is conducted around the recent share price of US$27.21, it would amount to US$1.0m. Since September 2023, Michael's direct individual holding has increased from 24.94k shares to 43.15k. Company insiders have collectively sold US$14m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Aug 10
Marathon Oil Corporation Provides Production Guidance for the Full Year 2024 Marathon Oil Corporation provided production guidance for the full year 2024. For the year, the company expects to deliver total Company oil production between 195,000 bopd to 185,000 bopd. Reported Earnings • Aug 08
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: US$0.62 (up from US$0.47 in 2Q 2023). Revenue: US$1.71b (up 15% from 2Q 2023). Net income: US$349.0m (up 22% from 2Q 2023). Profit margin: 20% (up from 19% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.7%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 30% per year. Declared Dividend • Aug 04
First quarter dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 21st August 2024 Payment date: 10th September 2024 Dividend yield will be 1.7%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 3.7% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 01
Marathon Oil Corporation Declares Second Quarter 2024 Dividend, Payable on September 10, 2024 Marathon Oil Corporation announced that the Company's board of directors has declared a dividend of 11 cents per share on Marathon Oil Corporation common stock. The dividend is payable on September 10, 2024, to stockholders of record on August 21, 2024. Announcement • Jul 18
Marathon Oil Corporation to Report Q2, 2024 Results on Aug 07, 2024 Marathon Oil Corporation announced that they will report Q2, 2024 results After-Market on Aug 07, 2024 Announcement • May 30
ConocoPhillips (NYSE:COP) entered into a definitive agreement to acquire Marathon Oil Corporation (NYSE:MRO) for $17.2 billion. ConocoPhillips (NYSE:COP) entered into a definitive agreement to acquire Marathon Oil Corporation (NYSE:MRO) for $17.2 billion May 28, 2024. Under the terms of the agreement, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock. Upon termination of the Merger Agreement under specified circumstances, Marathon would be required to pay ConocoPhillips a termination fee of $557 million. The ConocoPhillips Center in Houston will remain the company’s headquarters.
The completion of the Merger is subject to satisfaction or waiver of certain customary mutual closing conditions, including the receipt of the required approvals from Marathon stockholders; the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”); certain other specified regulatory approvals having been obtained; the effectiveness of the registration statement on Form S-4 to be filed by ConocoPhillips pursuant to which the shares of ConocoPhillips common stock to be issued in connection with the Merger are registered with the Securities and Exchange Commission (the “SEC”); the authorization for listing of ConocoPhillips common stock to be issued in connection with the Merger on the NYSE. Transaction has been unanimously approved by the board of directors of ConocoPhillips and Marathon Oil. The transaction is expected to close in the fourth quarter of 2024. Acquisition is immediately accretive to ConocoPhillips on earnings, cash from operations, free cash flow and return of capital per share to shareholders.
Evercore is serving as ConocoPhillips’ financial advisor and Gregory E. Ostling and Zachary S. Podolsky of Wachtell, Lipton, Rosen & Katz serving as ConocoPhillips’ legal advisor for the transaction. Morgan Stanley & Co. LLC is serving as Marathon Oil’s financial advisor and Sean T. Wheeler, Debbie P. Yee, Camille E. Walker, Rachael Lichman; Julian Seiguer, Atma Kabad, David Wheat, Bill Dong, Ian John, Chuck Boyars, Thomas Wilson, Athina Van Melkebeke, Rob Fowler and Stephanie Jeane of Kirkland & Ellis LLP acted as Marathon Oil’s legal advisor for the transaction. Morgan Stanley & Co. LLC acted as fairness opinion provider to the board of Marathon Oil. Rob Masella, Mike Patrone, Deborah Birnbach, Amanda Gill, Christina Louise, Ademola, Wei Xu and Will Stanton of Goodwin Procter LLP acted as legal advisor to Morgan Stanley & Co. LLC. Reported Earnings • May 02
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$0.52 (down from US$0.66 in 1Q 2023). Revenue: US$1.55b (down 1.8% from 1Q 2023). Net income: US$297.0m (down 29% from 1Q 2023). Profit margin: 19% (down from 26% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 2.0%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 28
Fourth quarter dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 14th May 2024 Payment date: 10th June 2024 Dividend yield will be 1.5%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 25
Marathon Oil Corporation Declares Dividend for the First Quarter of 2024, Payable on June 10, 2024 Marathon Oil Corporation announced that the company's board of directors has declared a dividend of 11 cents per share on company common stock for the first quarter of 2024. The dividend is payable on June 10, 2024, to stockholders of record on May 15, 2024. Buy Or Sell Opportunity • Apr 17
Now 21% undervalued Over the last 90 days, the stock has risen 25% to US$27.68. The fair value is estimated to be US$35.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are forecast to decline by 3.1% per annum over the same time period. Announcement • Apr 12
Marathon Oil Corporation, Annual General Meeting, May 22, 2024 Marathon Oil Corporation, Annual General Meeting, May 22, 2024, at 08:00 Central Standard Time. Location: One MRO,Level 6 Auditorium 990 Town & Country Blvd.,Houston,TX77024 United States Agenda: To consider and Elect 8 directors to serve until the 2025 Annual Meeting; to consider Ratify the selection of PricewaterhouseCoopersLLPasour independent auditor for 2024; to consider Approve on an advisory basis our 2023 named executive officer compensation; and to transact such other business matters. Announcement • Apr 03
Marathon Oil Corporation to Report Q1, 2024 Results on May 01, 2024 Marathon Oil Corporation announced that they will report Q1, 2024 results at 4:00 PM, US Eastern Standard Time on May 01, 2024 Recent Insider Transactions • Mar 22
Chairman recently sold US$2.2m worth of stock On the 19th of March, Lee Tillman sold around 81k shares on-market at roughly US$26.94 per share. This transaction amounted to 7.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Lee's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Mar 21
Chairman notifies of intention to sell stock Lee Tillman intends to sell 81k shares in the next 90 days after lodging an Intent To Sell Form on the 19th of March. If the sale is conducted around the recent share price of US$26.94, it would amount to US$2.2m. For the year to December 2017, Lee's total compensation was 10% salary and 90% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2023, Lee's direct individual holding has increased from 851.36k shares to 1.02m. Company insiders have collectively sold US$9.9m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Mar 04
Marathon Oil Corporation Announces Executive Changes Marathon Oil Corporation announced that Rob L. White has been promoted to Executive Vice President, effective May 1, 2024, and that Zach Dailey, Vice President, Internal Audit, will succeed Mr. White as Vice President, Controller and Chief Accounting Officer, effective May 1, 2024. Mr. White will replace Dane Whitehead, who informed the Company of his intention to retire from Marathon Oil effective July 1, 2024, following more than 7 years of service. Mr. Whitehead will continue serving as Executive Vice President and Chief Financial Officer until May 1, 2024, at which time he will serve as Advisor to the CEO to allow for the transition of his responsibilities prior to retirement in July 2024. Mr. White joined Marathon Oil in 1991 and has more than 30 years of experience in oil & gas accounting and finance. He has served as Vice President, Controller and Chief Accounting Officer since March 1, 2022. Prior to that, he served as Vice President of Internal Audit for the Company from May 2020 to March 2022, Director of Operations Planning from January 2018 to May 2020, and Director of Central Evaluation & Financial Planning from January 2014 to December 2017. Since joining the Company in 1991, Mr. White also served in various other leadership positions of increasing responsibility in corporate planning and domestic and international accounting. He holds a Bachelor of Science degree in Accounting from Eastern Illinois University and is a licensed Certified Public Accountant. Mr. Dailey joined Marathon Oil in 2015 and has more than 17 years of experience in the oil & gas industry. He has served as Vice President, Internal Audit for the Company since March 2022. Prior to that, he served as Growth Director – Business Development from March 2021 to March 2022, Director of Operations Planning from May 2020 to March 2021, Regional Vice President – Bakken from September 2018 to May 2020, Advisor to the President and CEO from July to September 2018 and Vice President of Investor Relations from April 2017 to July 2018. Prior to joining Marathon Oil, Mr. Dailey served in various finance roles at Linn Energy, Berry Petroleum Company and Morgan Keegan & Company. He holds a Bachelor of Arts degree in Political Science from Vanderbilt University and an Executive MBA from the University of Denver. Announcement • Mar 02
Marathon Oil Corporation Announces Chief Financial Officer Changes Marathon Oil Corporation announced that Rob L. White has been promoted to Chief Financial Officer, effective May 1, 2024. Mr. White will replace Dane Whitehead, who informed the Company of his intention to retire from Marathon Oil effective July 1, 2024, following more than 7 years of service. Mr. Whitehead will continue serving as Chief Financial Officer until May 1, 2024, at which time he will serve as Advisor to the CEO to allow for the transition of his responsibilities prior to retirement in July 2024. Mr. White joined Marathon Oil in 1991 and has more than 30 years of experience in oil & gas accounting and finance. He has served as Vice President, Controller and Chief Accounting Officer since March 1, 2022. Prior to that, he served as Vice President of Internal Audit for the Company from May 2020 to March 2022, Director of Operations Planning from January 2018 to May 2020, and Director of Central Evaluation & Financial Planning from January 2014 to December 2017. Since joining the Company in 1991, Mr. White also served in various other leadership positions of increasing responsibility in corporate planning and domestic and international accounting. He holds a Bachelor of Science degree in Accounting from Eastern Illinois University and is a licensed Certified Public Accountant. New Risk • Feb 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Minor Risks High level of debt (47% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (24% net profit margin). Reported Earnings • Feb 22
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: US$2.56 (down from US$5.27 in FY 2022). Revenue: US$6.70b (down 12% from FY 2022). Net income: US$1.55b (down 57% from FY 2022). Profit margin: 23% (down from 48% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Feb 22
Marathon Oil Corporation Provides Production Guidance for the Full Year 2024 Marathon Oil Corporation provided production guidance for the full year 2024. For the year, the company expects to deliver total Company oil production of 190,000 net bopd at the midpoint of its 2024 guidance range. Although winter weather is expected to lower first quarter production by about 4,000 net bopd, primarily concentrated in the Bakken, the Company expects no impact to its flat oil production guidance for the full year. Upcoming Dividend • Feb 13
Upcoming dividend of US$0.11 per share at 1.9% yield Eligible shareholders must have bought the stock before 20 February 2024. Payment date: 11 March 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (4.5%). Upcoming Dividend • Feb 13
Upcoming dividend of US$0.11 per share at 1.9% yield Eligible shareholders must have bought the stock before 20 February 2024. Payment date: 11 March 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (4.5%). Declared Dividend • Feb 04
Third quarter dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 20th February 2024 Payment date: 11th March 2024 Dividend yield will be 1.9%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 01
Marathon Oil Corporation Declares Fourth Quarter 2023 Dividend, Payable on March 11, 2024 Marathon Oil Corporation announced that the Company's board of directors has declared a dividend of 11 cents per share on Marathon Oil Corporation common stock. The dividend is payable on March 11, 2024, to stockholders of record on February 21, 2024. Announcement • Jan 17
Marathon Oil Corporation to Report Q4, 2023 Results on Feb 21, 2024 Marathon Oil Corporation announced that they will report Q4, 2023 results After-Market on Feb 21, 2024 New Risk • Dec 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risks High level of debt (49% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (26% net profit margin). Significant insider selling over the past 3 months (US$2.8m sold). Upcoming Dividend • Nov 07
Upcoming dividend of US$0.11 per share at 1.7% yield Eligible shareholders must have bought the stock before 14 November 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of American dividend payers (5.1%). Lower than average of industry peers (4.5%). Reported Earnings • Nov 02
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: US$0.75 (down from US$1.22 in 3Q 2022). Revenue: US$1.77b (down 12% from 3Q 2022). Net income: US$453.0m (down 45% from 3Q 2022). Profit margin: 26% (down from 41% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 9.9%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 1.2% decline forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 87% per year and the company’s share price has also increased by 87% per year. Announcement • Nov 02
Marathon Oil Corporation Reaffirms Production Guidance for the Year 2023 Marathon Oil Corporation reaffirmed production guidance for the year 2023. The company's originally provided 2023 production guidance range remain unchanged. For the full year 2023, the Company is trending to the high end of its annual 2023 total oil-equivalent production guidance range, the midpoint of its annual oil production guidance range. Announcement • Oct 26
Marathon Oil Corporation Declares Third-Quarter 2023 Dividend, Payable on December 11, 2023 Marathon Oil Corporation announced that the Company's board of directors has declared a dividend of 11 cents per share on company's common stock. The dividend is payable on December 11, 2023, to stockholders of record on November 15, 2023. New Risk • Oct 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.9% per year for the foreseeable future. Minor Risks High level of debt (50% net debt to equity). Significant insider selling over the past 3 months (US$5.8m sold). Announcement • Oct 05
Marathon Oil Corporation to Report Q3, 2023 Results on Nov 01, 2023 Marathon Oil Corporation announced that they will report Q3, 2023 results After-Market on Nov 01, 2023 Recent Insider Transactions • Oct 02
Executive VP & CFO recently sold US$1.4m worth of stock On the 27th of September, Dane Whitehead sold around 50k shares on-market at roughly US$27.63 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Dane has been a net seller over the last 12 months, reducing personal holdings by US$4.1m. Recent Insider Transactions Derivative • Sep 29
Executive VP & CFO notifies of intention to sell stock Dane Whitehead intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 27th of September. If the sale is conducted around the recent share price of US$27.63, it would amount to US$1.4m. Since September 2022, Dane's direct individual holding has increased from 51.45k shares to 121.34k. Company insiders have collectively sold US$19m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Sep 18
Chairman notifies of intention to sell stock Lee Tillman intends to sell 160k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of September. If the sale is conducted around the recent share price of US$27.36, it would amount to US$4.4m. For the year to December 2016, Lee's total compensation was 10% salary and 90% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2022, Lee's direct individual holding has increased from 312.98k shares to 851.36k. Company insiders have collectively sold US$17m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Aug 28
Executive VP & CFO recently sold US$1.3m worth of stock On the 23rd of August, Dane Whitehead sold around 50k shares on-market at roughly US$25.76 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Dane has been a net seller over the last 12 months, reducing personal holdings by US$4.2m. Recent Insider Transactions Derivative • Aug 25
Executive VP & CFO notifies of intention to sell stock Dane Whitehead intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of August. If the sale is conducted around the recent share price of US$25.76, it would amount to US$1.3m. Since September 2022, Dane's direct individual holding has increased from 51.45k shares to 171.24k. Company insiders have collectively sold US$16m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Aug 08
Upcoming dividend of US$0.10 per share at 1.5% yield Eligible shareholders must have bought the stock before 15 August 2023. Payment date: 11 September 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (4.4%). Reported Earnings • Aug 03
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: US$0.47 (down from US$1.37 in 2Q 2022). Revenue: US$1.49b (down 32% from 2Q 2022). Net income: US$287.0m (down 70% from 2Q 2022). Profit margin: 19% (down from 44% in 2Q 2022). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 5.1%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.8% decline forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 66% per year, which means it is significantly lagging earnings growth. Announcement • Aug 03
Marathon Oil Corporation Reaffirms Production Guidance for the Year 2023 Marathon Oil Corporation reaffirmed production guidance for the year 2023. The company's originally provided 2023 production guidance ranges remain unchanged with the Company's full year 2023 total Company oil equivalent production trending above the midpoint of guidance. Third quarter total Company oil and oil equivalent production are both expected to be at or above the high end of the annual guidance ranges. Announcement • Jul 27
Marathon Oil Corporation Declares Second-Quarter 2023 Dividend, Payable on September 11, 2023 Marathon Oil Corporation announced that the Company's board of directors has declared a dividend of 10 cents per share on Marathon Oil Corporation common stock. The dividend is payable on September 11, 2023, to stockholders of record on August 16, 2023. Announcement • Jul 12
Marathon Oil Corporation to Report Q2, 2023 Results on Aug 02, 2023 Marathon Oil Corporation announced that they will report Q2, 2023 results After-Market on Aug 02, 2023 Announcement • Jan 26
Marathon Oil Corporation Declares Fourth Quarter 2022 Dividend, Payable on March 10, 2023 Marathon Oil Corporation announced that the Company's board of directors has declared a dividend of 10 cents per share on Marathon Oil Corporation common stock. The dividend is payable on March 10, 2023, to stockholders of record on February 15, 2023. Announcement • Jan 12
Marathon Oil Corporation to Report Q4, 2022 Results on Feb 15, 2023 Marathon Oil Corporation announced that they will report Q4, 2022 results After-Market on Feb 15, 2023