Marathon Oil (MRO) Stock: $29 Price Target And Overweight Rating

By Amit Chowdhry ● Mar 28, 2022
  • The shares of Marathon Oil Corporation (NYSE: MRO) have received a $29 price target from Barclays. These are the details.

The shares of Marathon Oil Corporation (NYSE: MRO) have received a $29 price target from Barclays. And Barclays analyst Jeanine Wai increased the price target on Marathon Oil from $20 while maintaining an “Overweight” rating on the shares. 

Despite the recent pullback, Wai is constructive on oil prices and increased the 2022 Brent forecast to $92 from $80. And based on the updated price deck and all else being equal, Wai’s oil exploration and production net asset values increased by 39% on average. 

Plus Wai increased price targets by 36% on average, resulting in 20% upside potential on average for the coverage list. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.