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Downgrade Alert for Marathon Oil (MRO)

By Nick Russo

Marathon Oil (NYSE:MRO) was downgraded from Outperform to Perform at Oppenheimer today. The stock closed yesterday at $18.40 on volume of 11.7 million shares, above average daily volume of 10.1 million.

There is potential upside of 71.6% for shares of Marathon Oil based on a current price of $18.40 and an average consensus analyst price target of $31.57. The stock should run into initial resistance at its 50-day moving average (MA) of $24.62 and subsequent resistance at its 200-day MA of $27.81.

Marathon Oil Corporation, through its subsidiaries, is an integrated oil firm with operations worldwide. The Company explores for and produces and markets liquid hydrocarbons and natural gas on a worldwide basis. Marathon also mines, extracts and transports bitumen from oil sands deposits in Alberta, Canada and refines, markets and transports crude oil and petroleum products.

In the past 52 weeks, Marathon Oil share prices have been bracketed by a low of $17.86 and a high of $41.92 and closed yesterday at $18.40, 3% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 3.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Marathon Oil on May 7th, 2015 by issuing a Downtrend alert when the shares were trading at $29.38. Since that call, shares of Marathon Oil have fallen 37.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Marathon Oil

Ticker(s): MRO