Benzinga | Feb 22, 2021 04:54PM EST

Marathon Oil: Q4 Earnings Insights

Shares of Marathon Oil (NYSE:MRO) rose in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share were down 271.43% over the past year to ($0.12), which beat the estimate of ($0.20).

Revenue of $830,000,000 declined by 31.69% year over year, which missed the estimate of $838,050,000.

Guidance

Marathon Oil Announces FY21 Capex Budget Of $1B, Targeting $500M Of Gross Debt Reduction

Technicals

Company's 52-week high was at $10.60

52-week low: $3.02

Price action over last quarter: Up 140.09%

Company Description

Marathon is an independent exploration and production company primarily focusing on unconventional resources in the United States. At the end of 2019, the company reported net proved reserves of 1.2 billion barrels of oil equivalent. Net production averaged 415 thousand barrels of oil equivalent per day in 2019 at a ratio of 68% oil and NGLs and 32% natural gas.