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Downgrade Alert for Marathon Oil (MRO)

By Nick Russo

Marathon Oil (NYSE:MRO) was downgraded from Overweight to Equal Weight at Barclays Capital today. The stock closed yesterday at $25.89 on volume of 10.8 million shares, above average daily volume of 9.4 million.

In the past 52 weeks, Marathon Oil share prices have been bracketed by a low of $24.28 and a high of $41.92 and closed yesterday at $25.89, 7% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 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.

Marathon Oil has overhead space with shares priced $25.89, or 27.9% below the average consensus analyst price target of $35.90. The stock should find initial resistance at its 50-day moving average (MA) of $29.82 and further resistance at its 200-day MA of $35.75.

SmarTrend is monitoring the recent change of momentum in Marathon Oil. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Marathon Oil in search of a potential trend change.

Keywords: analyst upgrades/downgrades Marathon Oil

Ticker(s): MRO