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Aug. 7, 2019, 4:56 p.m. EDT

Marathon Oil beats sales, adjusted profit targets

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By Micah Maidenberg

Revenue at Marathon Oil Corp. /zigman2/quotes/205031829/composite MRO -6.32% was flat in the second quarter but better than what analysts expected.

The Houston-based energy producer reported sales of $1.43 billion in the second quarter, compared with $1.42 billion a year ago. Analysts polled by FactSet forecast $1.36 billion in sales.

The company reported a profit of $161 million, or 20 cents a share, compared with $174 million, or 21 cents a share, in the second quarter last year.

Marathon also reported an adjusted profit of 23 cents a share. Analysts expected 13 cents a share in adjusted earnings, according to FactSet.

Production in the U.S. averaged 332,000 barrels of oil equivalent a day in the second quarter. Oil production rose 17% compared with last year.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

/zigman2/quotes/205031829/composite
US : U.S.: NYSE
$ 5.34
-0.36 -6.32%
Volume: 107.58M
May 29, 2020 4:00p
P/E Ratio
16.67
Dividend Yield
0.00%
Market Cap
$4.50 billion
Rev. per Employee
$2.46M
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