As of March 19, 2017, 29 analysts have provided recommendations for Marathon Oil (MRO). These recommendations include seven “strong buy” recommendations, seven “buy” recommendations, 14 “hold” recommendations, and one “sell.” There is currently no “strong sell” recommendation for MRO stock.
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The median target price from the Wall Street analysts covering MRO stock is $21.50, which is ~39% higher than its closing price of $15.46 on March 17, 2017. The upside potential has increased for MRO stock mainly due to the fall in its price (see Part 1).
The mean target price for MRO from these recommendations is $20.80, which is lower than the median target price.
Last week, all MRO ratings have remained unchanged, and MRO’s median target price remained unchanged as well, while its mean target price has risen from $20.73 to $20.80.
Based on the mean price targets of recommendations from Wall Street analysts, MRO oil and gas peers Carrizo Oil & Gas (CRZO) and Gulfport Energy (GPOR) have potential upsides of ~62% and ~83%, respectively, based on their closing prices on March 17. Denbury Resources (DNR) has a potential upside of ~41%.
Notably, the SPDR S&P Oil and Gas Exploration & Production ETF (XOP) invests at least 80% of its total assets in oil and gas exploration companies, whereas the Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies.