Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Marathon Oil delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.</li><li>The company reported a strong adjusted free cash flow of $531 million and returned $434 million to shareholders, marking a 10% increase in distributions compared to the previous quarter.</li><li>In the third quarter, Marathon Oil's management team expects total company oil and oil equivalent production to either meet or surpass the upper limit of its annual guidance range.</li></ul>

Marathon Oil delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.The company reported a strong adjusted free cash flow of $531 million and returned $434 million to shareholders, marking a 10% increase in distributions compared to the previous quarter.In the third quarter, Marathon Oil's management team expects total company oil and oil equivalent production to either meet or surpass the upper limit of its annual guidance range.

Marathon Oil Corporation: Projected Capital Program - Are They Aiming Too High? - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Support levels discussed in our 8/8/23 Compass broke, leading to a change in character (from buy the dup to sell the rip) and a deeper pullback.</li>
<li>Supports we were watching included the 50-day MA and 4460-4475 on the S&amp;P 500, $371.50 on $QQQ, and $190-193 on the $IWM; these are now resistance moving forward</li>
<li>Longer-Term support on the S&amp;P 500 is at 4300-4325 (nearly hit on Friday) and 4200, and we will remain constructive as long as these supports hold.</li>
</ul>


Support levels discussed in our 8/8/23 Compass broke, leading to a change in character (from buy the dup to sell the rip) and a deeper pullback.
Supports we were watching included the 50-day MA and 4460-4475 on the S&amp;P 500, $371.50 on $QQQ, and $190-193 on the $IWM; these are now resistance moving forward
Longer-Term support on the S&amp;P 500 is at 4300-4325 (nearly hit on Friday) and 4200, and we will remain constructive as long as these supports hold.


Pause Continues But Oversold Bounce Likely; Buys in Energy, Construction/Engineering, Enrgy Shippers

Equity Capital Markets

<ul><li>It was a successful first quarter for Marathon Oil as it delivered an all-around beat with strong financial and operational performance.</li><li>The company exceeded its commitment to return at least 40% of its cash flow from operations to shareholders, generating strong free cash flow despite not receiving any EG cash dividends.</li><li>First-quarter oil production was consistent with guidance, and the company expects an improving trend in the second and third quarters.</li></ul>

It was a successful first quarter for Marathon Oil as it delivered an all-around beat with strong financial and operational performance.The company exceeded its commitment to return at least 40% of its cash flow from operations to shareholders, generating strong free cash flow despite not receiving any EG cash dividends.First-quarter oil production was consistent with guidance, and the company expects an improving trend in the second and third quarters.

Marathon Oil Corporation: Significant Strategic Progress in Equatorial Guinea – Key Drivers

<ul><li>Marathon Oil delivered a mixed result for the quarter as it surpassed the revenue expectations of Wall Street.</li><li>It brought 13 wells to sales, among which 8 were 2-mile laterals and the productivity for these extended laterals is very strong.</li><li>We provide the stock of Marathon Oil Corporation with a ‘Hold’ rating with a revision in the target price.</li></ul>

Marathon Oil delivered a mixed result for the quarter as it surpassed the revenue expectations of Wall Street.It brought 13 wells to sales, among which 8 were 2-mile laterals and the productivity for these extended laterals is very strong.We provide the stock of Marathon Oil Corporation with a ‘Hold’ rating with a revision in the target price.

Marathon Oil: Acquisition Of Eagle Ford Assets Of Ensign Resources & Other Drivers

<ul><li>Marathon's previous quarter was one of its best financial performances since transitioning to an independent E&P company.</li><li>Despite these factors, the company delivered an all-around beat and continues to reward its shareholders with capital returns.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Marathon's previous quarter was one of its best financial performances since transitioning to an independent E&P company.Despite these factors, the company delivered an all-around beat and continues to reward its shareholders with capital returns.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Marathon Oil: Enhancement of Retail Operations & Other Drivers

United States

Marathon Oil Corporation is an independent international energy company engaged in exploration and production, oil sands mining and integrated gas. The Company's operations are focused in North America, Africa and Europe.

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Marathon Oil (MRO US)

Marathon Oil Corporation: Projected Capital Program - Are They Aiming Too High? - Major Drivers

Marathon Oil delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus. The company reported a strong...

Baptista Research

Pause Continues But Oversold Bounce Likely; Buys in Energy, Construction/Engineering, Enrgy Shippers

$SPX broke support discussed in our Aug 8 Compass (50-day MA/4460), leading to change in character (now sell the rips) and deeper pullback. Expect...

Vermilion Research

Marathon Oil Corporation: Significant Strategic Progress in Equatorial Guinea – Key Drivers

It was a successful first quarter for Marathon Oil as it delivered an all-around beat with strong financial and operational performance. The...

Baptista Research

Marathon Oil: Acquisition Of Eagle Ford Assets Of Ensign Resources & Other Drivers

Marathon Oil delivered a mixed result for the quarter as it surpassed the revenue expectations of Wall Street. It brought 13 wells to sales, among...

Baptista Research

Marathon Oil: Enhancement of Retail Operations & Other Drivers

Marathon's previous quarter was one of its best financial performances since transitioning to an independent E&P company. Despite these...

Baptista Research

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