Marathon Oil (MRO) Falls Even With Earnings Beat, Solid Quarter

The fall in oil prices today pushed the share price of Marathon Oil (NYSE:MRO) down even after a big earnings beat for the last quarter.

Net income for Marathon climbed to $996 million, or $1.39 a share, over double the $457 million, or 64 cents a share in the same quarter last year. Revenue soared to $21.07 billion.

The energy giant reported adjusted net income of of $1.65 a share. Analysts on average had been looking for $1.44 a share.

Marathon’s president and CEO Clarence P. Cazalot Jr. said, “Marathon delivered another quarter of strong operations across all segments, positioning the Company to capture higher commodity prices and margins and achieve solid financial results. These results further highlight the strength of our Upstream and Downstream businesses as we continue to progress toward an expected effective date of June 30 for the spin-off of Marathon Petroleum Corporation, creating two independent, highly focused energy companies.”

Over the last five quarters Marathon has grown revenue by double-digits, averaging 35.8 percent.

Key competitors of Marathon include Exxon (NYSE:XOM), Chevron Corporation (NYSE:CVX), ConocoPhillips (NYSE:COP), BP plc (NYSE:BP), TOTAL S.A. (NYSE:TOT), Hess Corp. (NYSE:HES), and Murphy Oil Corporation (NYSE:MUR)

Marathon was trading at $52.25, falling $1.16, or 2.17 percent, as of 2:16 PM EDT.