This #1 (Strong Buy) Oils and Energy Stock is a Smart Buy Right Now
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Should You Buy #1 (Strong Buy)-Ranked Marathon Oil (MRO) for Your Portfolio?
Marathon Oil was upgraded to the Zacks Rank #1 list on February 5, 2022. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Incorporated in 2001, Houston, Texas-based Marathon Oil Corporation is a leading oil and natural gas exploration and production (‘E&P’) company with operations in the United States and Africa. As of the end of 2021, Marathon Oil had approximately 1,106 million oil-equivalent barrels in net proved reserves (52% crude oil/condensate and 68% proved developed) and 89% was located in U.S. In 2021, the company’s overall production from continuing operations was 347,000 net barrels of oil equivalent per day. Approximately 82% of Marathon Oil’s 2021 volumes came from the U.S.
For fiscal 2022, nine analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.64 to $2.88 per share. MRO boasts an average earnings surprise of 37.4%.
Earnings are forecasted to see growth of 83.4% for the current fiscal year, and sales are expected to increase 13.8%.
Additionally, MRO has climbed higher over the past four weeks, gaining 14.1%. The S&P 500 is down 7.7% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Marathon Oil could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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Marathon Oil Corporation (MRO) : Free Stock Analysis Report
