Marathon Oil divestment plan positive, says Argus

theflyonthewall.com

Argus likes Martathon Oil's plan to divest assets in Angola and the North Sea, and use the proceeds to accelerate the development of onshore liquids-rich resources in the U.S. The firm lowered its 2014 EPS estimate for the company to $2.79 from $3.34 to reflect the firm's outlook for lower crude oil price realization this year, but it expects the proceeds from U.S. liquids to partially offset the weaker crude pricing. The firm reiterates a $42 price target and Buy rating.

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