Marathon Oil Corporation

MRO

Market cap $16B

NEW YORK , Nov. 21, 2024 /PRNewswire/ -- S&P MidCap 400 constituent Texas Pacific Land Corp. (NYSE: TPL) will replace Marathon Oil Corp. (NYSE: MRO) in the S&P 500, S&P SmallCap 600 constituent Mueller Industries Inc. (NYSE: MLI) will replace Texas Pacific Land in the S&P MidCap 400, and Atlas Energy Solutions Inc. (NYSE: AESI) will replace Mueller Industries in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, November 26. S&P 500 & 100 constituent ConocoPhillips (NYSE: COP) is acquiring Marathon Oil in a deal expected to close November 22, pending final closing conditions.

Marathon Oil is being dropped because it will be purchased by ConocoPhillips in a deal expected to close on Nov. 22.

The most important element of corporate stock buybacks is the reduction in the share count.

MRO spends $458 million in capital and exploratory expenditures during the quarter and raked in $589 million in adjusted free cash flow.

A new 13F filing from Viking Fund Management reveals which companies the fund bought and sold in the third quarter, including exiting some oil companies ahead of the 2024 election.

Today's Big 3 focuses on three names all under $30 per share. Alan Knuckman breaks down what makes Marathon Digital (MARA), Mobileye (MBLY) and Marathon Oil (MRO) trades to watch.

Marathon Oil (MRO) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.77 per share a year ago.

U.S. shale producer Marathon Oil beat Wall Street estimates for third-quarter profit on Wednesday, helped by higher production and resilient demand for oil.

HOUSTON , Nov. 6, 2024 /PRNewswire/ -- Marathon Oil Corporation (NYSE: MRO) reported third quarter 2024 net income of $287 million or $0.51 per diluted share, which includes the impact of certain items not typically represented in analysts' earnings estimates and that would otherwise affect comparability of results. Adjusted net income was $360 million or $0.64 per diluted share.

As COP is all set to acquire MRO, a major layoff of about 500 employees is announced in Houston to reduce costs and improve performance.