Marathon Raises Guidance After Better-Than-Expected Growth From U.S. Shale
Our fair value estimate and no-moat rating are unchanged after a first look at Marathon’s first-quarter operating and financial results. The firm delivered production of 398 mboe/d in the first quarter, excluding Libya, which was 9% higher sequentially on a divestiture-adjusted basis. This was significantly above the high end of guidance, due to higher-than-expected unconventional production in the North America segment. Full-year growth guidance for U.S. resource plays was ratcheted to 25%-30%,...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.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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