Marathon Oil Corp

MRO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$76.00	Dsff	Krgjnfnzr

Marathon Oil Earnings: Shareholder-Friendly Cash Returns Continue, but Dividend Mix Remains Low

Joshua Aguilar , Samuel Siampaus

Feb 22, 2024

No-moat-rated Marathon Oil underperformed our expectations for revenue, earnings, and cash in its latest fourth-quarter results. Total production of 400,000 barrels of oil equivalent per day, or 400 mboe/d, similarly fell below our expectations and dipped 5% sequentially, though production costs fell a bit below our model. Further, lower hydrocarbon volumes were primarily due to lower production than we expected from the Eagle Ford basin.

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