Upgrade to Overweight, $17.50 price target
Having shed low margin assets, reduced costs and delivered robust production from new and existing fields, MRO is well positioned to deliver volume growth of 10-12% in a $50/bl WTI scenario, without outspending cash flows. That's a combination which deserves to find favour with investors looking for growth with capital restraint. Upgrade to Overweight, price target $17.50 (from $16.00).Marathon Oil is an independent exploration and production company focused on the United States resource plays. The company also has international operations in Equatorial Guinea (E.G.). The company's segments are: United States, which explores for, produces and markets crude oil and condensate, natural gas liquids (NGLs) and natural gas in the United States; and International, which explores for, produces and markets crude oil and condensate, NGLs and natural gas outside of the United States as well as produces and markets products manufactured from natural gas, such as liquefied natural gas and methanol, in E.G.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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