Relaunching Coverage of Marathon Oil With $15 Fair Value Estimate and No-Moat Rating
We are relaunching coverage of Marathon with a no-moat rating, stable trend, and fair value estimate of $15 per share (resulting in a 1.1 times price/fair value ratio). Less than half of its production is derived from unconventional resources, but these will be the main growth engine going forward.In Oklahoma, we expect a CAGR of 30% through 2020. Last year it entered the emerging Sooner Trend, Canadian, and Kingfisher Counties (STACK) play, and was already active in the South Central Oklahoma ...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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.
We have operations in 27 countries.
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