ConocoPhillips have successfully finished their
acquisition of
Marathon Oil Corporation, potentially creating $1B in synergies. Marathon Oil's
Q3 earnings and revenue surpassed estimates, but its
3-year EPS growth remained stagnant.
Marathon Oil stock received approval for a proposed merger with ConocoPhillips and was delisted following its sale. The company also plans to buy back $20 billion of its stock, boosted by a notable acquisition. Marathon Oil
shares saw a surge in purchases by multiple wealth management firms while others liquidated their holdings. There have been
stockholder concerns with the merger, but
Marathon Oil's Q3 guidance and raised outlook for 2024 confirmed strong performance. Anticipations on whether the stock could rebound from its 0.7% drop are high.
ConocoPhillips is proceeding with the Marathon Oil acquisition for $22.5M despite earnings lagging estimates and market underperformance. In response, the stock jumped 8.4% on the buyout deal news.
Marathon Oil's Q3 earnings snapshot revealed better-than-expected results while stocks underperformed the Nasdaq. The deal by ConocoPhillips highlights a wave in energy M&A, promising potential long-term value creation.
Marathon Oil Stocks MRO News Analytics from Wed, 31 Jan 2024 08:00:00 GMT to Fri, 29 Nov 2024 18:56:48 GMT -
Rating 8
- Innovation -4
- Information 7
- Rumor -6
