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Downgrade Alert for Marathon Oil (MRO)

By David Diaz

Marathon Oil (NYSE:MRO) was downgraded from Outperform to Market Perform at Wells Fargo today. The stock closed yesterday at $12.92 on volume of 30.8 million shares, below average daily volume of 42.5 million.

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.

There is potential upside of 81.8% for shares of Marathon Oil based on a current price of $12.92 and an average consensus analyst price target of $23.49. The stock should hit resistance at its 200-day moving average (MA) of $15.09, as well as support at its 50-day MA of $9.67.

In the past 52 weeks, shares of Marathon Oil have traded between a low of $6.52 and a high of $31.53 and closed yesterday at $12.92, which is 98% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has advanced 1.9%.

SmarTrend recommended that subscribers consider buying shares of Marathon Oil on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.53. Since that recommendation, shares of Marathon Oil have risen 53.9%. We continue to monitor MRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Marathon Oil

Ticker(s): MRO