Story updated at 9:55 a.m. to reflect market activity.
Marathon Oil fell -1.4% to $38.37 in morning trading.
The analyst firm also lowered its EPS estimates for the company through 2015. The lower price target and estimates reflect assumptions for liquids pricing in Africa according to Barclays analyst Thomas R. Driscoll.
"We are increasing our differential forecast for Africa liquids pricing relative to Brent to better reflect the production mix now that we have set Libyan volumes to zero," Driscoll wrote. "We are increasing our 2015E differential to ~$48. Our 2015E PICF estimate decreases 4% as the revised differential assumption more than offsets gains tied to our increased volumes forecast for next year."
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Separately, TheStreet Ratings team rates MARATHON OIL CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MARATHON OIL CORP (MRO) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, expanding profit margins and increase in stock price during the past year. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."