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Downgrade Alert for Marathon Oil (MRO)

By Amy Schwartz

Marathon Oil (NYSE:MRO) was downgraded from Neutral to Sell at Citigroup today. The stock closed yesterday at $27.19 on volume of 7.2 million shares, below average daily volume of 9.1 million.

In the past 52 weeks, shares of Marathon Oil have traded between a low of $24.28 and a high of $41.92 and closed yesterday at $27.19, which is 12% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has slid 0.3%.

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.

Marathon Oil has overhead space with shares priced $27.19, or 24.3% below the average consensus analyst price target of $35.90. Marathon Oil shares should first meet resistance at the 50-day moving average (MA) of $30.38 and find additional resistance at the 200-day MA of $35.91.

SmarTrend is tracking the current trend status for Marathon Oil and will alert subscribers who have MRO in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Marathon Oil

Ticker(s): MRO