Upgrade Alert for Marathon Oil (MRO)
Marathon Oil (NYSE:MRO) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $15.17 on volume of 18.3 million shares, below average daily volume of 26.2 million.
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 $15.17, or 35.4% below the average consensus analyst price target of $23.49. The stock should discover initial support at its 200-day moving average (MA) of $14.19 and subsequent support at its 50-day MA of $11.58.
Marathon Oil share prices have moved between a 52-week high of $31.53 and a 52-week low of $6.52 and closed yesterday at 133% above that low price at $15.17 per share. The 200-day and 50-day moving averages have moved 1.52% lower and 3.97% higher over the past week, respectively.
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