• Return to Headlines

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 $39.15 on volume of 10.0 million shares, above average daily volume of 6.1 million.

There is potential upside of 8.9% for shares of Marathon Oil based on a current price of $39.15 and an average consensus analyst price target of $42.64. The stock should discover initial support at its 50-day moving average (MA) of $36.32 and subsequent support at its 200-day MA of $35.21.

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, shares of Marathon Oil have traded between a low of $31.57 and a high of $39.35 and closed yesterday at $39.15, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Marathon Oil on March 7th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.11. Since that recommendation, shares of Marathon Oil have risen 14.8%. 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