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Downgrade Alert for Marathon Oil (MRO)

By Amy Schwartz

Marathon Oil (NYSE:MRO) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $15.47 on volume of 18.9 million shares, below average daily volume of 26.2 million.

Over the past year, Marathon Oil has traded in a range of $6.52 to $31.53 and closed yesterday at $15.47, 137% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.0% while the 200-day MA has slid 1.5%.

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.

Potential upside of 51.8% exists for Marathon Oil, based on a current level of $15.47 and analysts' average consensus price target of $23.49. Marathon Oil shares have support at the 200-day moving average (MA) of $14.19 and additional support at the 50-day MA of $11.58.

SmarTrend recommended that subscribers consider buying shares of Marathon Oil on August 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.39. Since that recommendation, shares of Marathon Oil have risen 8.9%. 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