Marathon Oil Corporation (NYSE:MRO)’s Q2 results released


Dallas, Texas 08/08/2013 (Financialstrend) – Marathon Oil Corporation (NYSE:MRO) reported its second quarter 2013 on 6th of August 2013, which was presented to be at a net income of $426 million, or at $0.60 per diluted share, associated to the net income in the first quarter of 2013 reported at $383 million, that is $0.54 per diluted share. For the second quarter of 2013, the company had reported adjusted net income to be at $478 million that is $0.67 per diluted share, compared to the adjusted net income of $361 million, which is $0.51 per diluted share, reported for the first quarter of 2013.

Adjusted net income is a non-GAAP economic measure and should not be measured a substitute for net income as determined in agreement with accounting principles usually acknowledged in the United States.

It is anticipated that the firm can develop its EPS to $2.82 this year & $3.35 next year from last year EPS $2.23. Shares of the stock had recently been making losses primarily owing to the marginal improvements made by the company in its recently reported quarterly results. However it is expected that the increase made in the financial guidance for the full fiscal year would move to attract higher demand from the investors.

There had been a loss of 4.75% in the shares of Marathon Oil Corporation (NYSE:MRO) which closed at $35.13 per share on Wednesday. The stock had presented intraday fluctuations on the range of $33.66 to $35.60 per share, after opening at $34.22 for the day. The company had recorded 52 week low at $26.83 and 52 week high at $37.87 per share.

There are 708.82 million shares outstanding with a market cap of $24.90 billion and an institutional ownership of 83% of the total capital. The trading volume on Wednesday was 10.45 million shares and the average volume is at 3.86 million shares per day.