Downgrade Alert for Marathon Oil (MRO)
Marathon Oil (NYSE:MRO) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $15.73 on volume of 18.8 million shares, above average daily volume of 11.3 million.
Over the past year, Marathon Oil has traded in a range of $15.70 to $41.92 and closed yesterday at $15.73, 0% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has declined 4.3%.
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 (NYSE:MRO) has potential upside of 100.7% based on a current price of $15.73 and analysts' consensus price target of $31.57. The stock should find initial resistance at its 50-day moving average (MA) of $22.74 and further resistance at its 200-day MA of $26.97.
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