Get Stock Quote Here Marathon Oil Corporation is a petroleum and natural gas exploration and production company based in the Marathon Oil Tower inHouston, Texas. As of December 31, 2015, the company had 2.163 billion barrels of oil equivalent (1.323×1010 GJ) of estimated proved reserves, of which 44% was in the United States, 32% was in Canada, 12% was in Equatorial Guinea, and 11% was in other countries in Africa, primarily Libya. The company has concessions with the Waha Oil Company in Libya. Libya accounts for 235 million barrels of oil equivalent (1.44×109 GJ) of estimated proved reserves, although the company did not sell any product from these operations in 2015 since operations were interrupted by civil and political unrest. In Canada, the company is focused on the Athabasca oil sands project, in which the company owns a 20% interest. The company's proved reserves consisted 40% of petroleum, 32% synthetic crude, 19% natural gas and 9% natural gas liquids. In 2015, the company sold 438 thousand barrels of oil equivalent (2,680,000 GJ) per day. In 2015, the company derived 13% of its revenues from sales to Irving Oil and 11% of its revenues from sales to Shell Oil. In 2016, the company plans to spend $1.4 billion on capital expenditures, of which $1.2 billion will be spent in North America, including $600 million in the Eagle Ford and $200 million in the Bakken formation. The company owns 277,000 net acres in the Bakken formation.
Marathon Sells More Assets, Taking Toll to $1.3 Billion So Far in 2016 Marathon Oil Corporation (MRO) is selling more assets. After the close of Monday's trading, the company announced that it has signed agreements for the sale of certain non-core assets. The purchase/sale price was listed as being some $950 million. Marathon had already started selling some assets in recent months. The company said that Monday's agreements brought the total since just the end of 2015 to approximately $1.3 billion. As far as how large or small this is on a relative basis, Marathon has a market cap of almost $10 billion based upon current share prices. In the largest transaction, Marathon said that it will divest all of its Wyoming upstream and midstream assets for roughly $870 million. The upstream properties, made up primarily of waterflood developments in the Big Horn and Wind River basins, averaged 16,500 barrels of oil equivalent per day in first quarter 2016. The assets sold also include the Red Butte pipeline, a 570-mile pipeline that is the only export line in the area. The effective date of this transaction is Jan. 1, 2016, and closing is expected mid-year 2016. Marathon said that in separate transactions it has signed agreements for the sale of its 10% working interest in the outside-operated Shenandoah discovery in the Gulf of Mexico, natural gas operation assets in the Piceance basin in Colorado, and certain undeveloped acreage in West Texas. The combined total for those assets were listed as being approximately $80 million. What may stand out here is that Marathon had previously given a target range for asset sales to the tune of $750 million to $1 billion. The company also indicated that ongoing portfolio management continues to move to a simpler structure with greater portfolio concentration. That will hopefully lead to lower risk and higher returns while continuing to protect Marathon's balance sheet. Marathon Oil's net proved reserves at the end of 2015 are listed as being some 2.2 billion barrels of oil equivalent in North America, Europe and Africa. Marathon closed down 0.9% at $11.67 Monday, versus a consensus analyst target price of $13.63 and versus a 52-week range of $6.52 to $31.53. Its shares were hardly changed in the after-hours trading session. LINK - http://www.msn.com/en-us/money/mark...to-dollar13-billion-so-far-in-2016/ar-BBrDhuS
Reported after close yesterday (5/4/16) Earnings: EPS -$0.43 Estimates: EPS -$0.47 Up 3.16% in pre-market
Analyst Upgrade/Downgrade Update Brokerage firm: Barclays Change: Downgrade Previous Rating: Overweight Current Rating: Equal weight Previous Price Target: $18 Current Price Target: $17
Upcoming dividend information: Ex-Div-Date: 11/14/16 Payment Date: 12/12/16 Dividend: $0.05 Current Price: $13.69 Annual Yield: 1.46%
If you don't mind please explain, it's new to me. I thought about selling 6 contracts "calls" maybe buying some puts. This is going to be a long hold for me. Thanks.
sure thing. At the close on Friday MRO was 15.16 So let look at the numbers . When you sell naked puts your best odds of winning are to sell below the market. Sell the 14 put that expires on May 19 this has around 78 percent chance of being a winning trade and will take in .22 credit. that .22 per share or $22 per contract. in order to place this trade you will have to put up around 1300 in funds ( max loss) When you buy the 11 put for around .02 that limits your loss so you only have to put up 275 per contract. so for the same amount of money tied up you could trade around 6 contracts. I like to close out winning trade with 25-50% of the credit taken in at the start of the trade.
This is my second long term hold, obviously much smaller. My guy says hold and that's what I plan on. The dividend isn't much to brag about but this has a ton of upside potential.
