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Marathon Oil (MRO -3.8%) is upgraded to Buy with a $40 target price (up from $35) at Global...

  • Wednesday, November 7, 2012, 2:35 PM ET
    Marathon Oil (MRO -3.8%) is upgraded to Buy with a $40 target price (up from $35) at Global Hunter after soundly beating Q3 production guidance. Eagle Ford is running at 60K boe/day, with 85K targeted for 2013; Bakken is running at 30K boe/day, with 33K planned for next year. Annual capex for 2012-13 is still seen at $5B-$5.5B, welcome given the increase in production guidance, the firm writes.
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    The best kept secret in the oil patch. since they spun off the refining side the analyst community still haven't paid enough attention. Listen to the last couple of conference calls and you can learn a lot about the best three domestic oil plays: Bakken, Eagle Ford, and Woodford. For the next four years I want to own cos. with real assets even if they are still in the ground waiting for better days.
    7 Nov 2012, 04:06 PM Reply Like
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