HOUSTON — Marathon Oil Corp. (MRO) on Monday reported a loss of $338 million in its fourth quarter.
On a per-share basis, the Houston-based company said it had a loss of 43 cents. Losses, adjusted for non-recurring costs, came to 12 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.
The energy company posted revenue of $830 million in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $843.8 million.
For the year, the company reported a loss of $1.45 billion, or $1.83 per share, swinging to a loss in the period. Revenue was reported as $3.09 billion.
Marathon Oil shares have increased 53% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 3%. In the final minutes of trading on Monday, shares hit $10.20, falling slightly in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRO at https://www.zacks.com/ap/MRO