Boston, MA 04/17/2014 (wallstreetpr) – Marathon Oil Corporation (NYSE:MRO) is $25 billion international energy company. The company engages in activities that include exploration and production of oil and natural. The company has operations in Angola, Equatorial Guinea, Canada and the U.S. as well as many other international locations.
The company pays a decent dividend and also returns significant profit to shareholders through stock repurchase. That way, the company, attracts many investors and retains existing ones.
Shares of the dividend-paying Marathon Oil Corporation (NYSE:MRO) are up more than 1.7 percent year-to-date. Recent shares repurchase announcement by the company has excited the stock. The company announced plans to buy back $500 million worth of its shares. The announcement came on the back of recent $1 billion stock buyback.
Shares of the company are currently trading around $36.47.
Cash from sale of stake
The company has a solid cash position that it expects to return to shareholders and also spend in acquisition of assets in promising markets. The strong cash position of Marathon Oil Corporation (NYSE:MRO) can be linked to its continued sale of assets in the North Sea.
The recent stock repurchase was supported by the proceeds realized from the sale of a stake in an Angolan offshore block. Marathon Oil has about $1.5 billion to be spent under its current stock repurchase program, according to CEO Lee Tillman.
Expanding North American interest
The company expects to reduce or completely withdraw interest in certain locations where it holds mature assets as it focuses on expanding its North American presence. Marathon Oil can be seen investing in the acquisition of properties in North Dakota, Texas and Oklahoma.
Financial performance
Marathon Oil Corporation (NYSE:MRO) last reported earnings in February; that was fourth quarter financial result. The company reported earnings per share of 60 cents, beating a year ago quarter at 55 cents but missing 72 cents consensus estimate. Revenue in the quarter was $3.29 billion, compared with consensus revenue estimate of $3.57 billion.
