Marathon Oil Corporation

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SKU: MRO-1 Category:

Description

Marathon Oil Corporation delivered an all-around beat in the previous quarter. With an impressive $718 million adjusted free cash flow and a remarkable reinvestment rate of just 38%, the company anticipates further enhancing free cash flow in the fourth quarter. The strategic allocation of capital in the first half of 2023 led to a significant surge in third-quarter production, surpassing annual guidance while simultaneously reducing capital spending. The commitment to returning capital and reducing gross debt remains unwavering, with a 10% increase in the base dividend and an expanded share repurchase authorization to $2.5 billion. Marathon Oil’s unique EG Integrated Gas business is poised for a significant financial uplift in 2024, with a new LNG sales agreement and a projected EBITDA increase of $300 million to $500 million. Looking ahead, Marathon Oil’s team is confident in delivering benchmark performance in free cash flow generation, reinvestment rate, capital efficiency, free cash flow breakeven, and production growth per share.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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