Analysts at Credit Suisse have lowered earnings estimates for Marathon Oil Corporation ( MRO ) while at the same time raised the price target on the stock to $43 from $40 a share.
"Our earnings decline is due to higher DD&A from shale spending and also higher interest expense and corporate charges," said Credit Suisse. "Cashflow increases due to continued strong growth in US lower 48 production and declining cash costs."
As a result, the firm is lowering their 2013, 2014 and 2015 EPS estimates to $3.25, $3.38 and $2.33, from $3.96, $3.83 and $2.97 respectively.
Shares of MRO are down 0.09% to $34.50, which is in the high end of the stock's 52-week range of $23.17 - $35.49.
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