The Houston-based oil and gas company anticipates its 2015 capital, investment and exploration budget will be approximately $4.3 to 4.5 billion, or about 20% lower than 2014 levels, excluding its recently disposed Norway business.
Marathon expects production to rise in the high-single digits, excluding its Libya operations.
Some traders bet a six-month price rout could be ending as more energy firms cut investment budgets, CNBC said.
Notably, Brent crude jumped 2.5% to trade above $62 a barrel in early morning trading on Thursday, giving a boost to the stock and the energy sector.
Brent futures for February delivery were up 0.59% to $61.54 at 10:16 a.m. in New York.
Separately, TheStreet Ratings team rates MARATHON OIL CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate MARATHON OIL CORP (MRO) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share."