Downgrade Alert for Marathon Oil (MRO)
Marathon Oil (NYSE:MRO) was downgraded from Buy to Neutral at ISI Group today. The stock closed yesterday at $35.01 on volume of 4.6 million shares, below average daily volume of 5.4 million.
There is potential upside of 19.4% for shares of Marathon Oil based on a current price of $35.01 and an average consensus analyst price target of $41.82. The stock should discover initial support at its 50-day moving average (MA) of $34.87 and subsequent support at its 200-day MA of $34.40.
In the past 52 weeks, shares of Marathon Oil have traded between a low of $28.63 and a high of $37.87 and closed yesterday at $35.01, which is 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.
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.
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