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Upgrade Alert for Marathon Oil (MRO)

By Shiri Gupta

Marathon Oil (NYSE:MRO) was upgraded from Equal Weight to Overweight at Morgan Stanley today. The stock closed yesterday at $15.09 on volume of 34.3 million shares, above average daily volume of 26.2 million.

In the past 52 weeks, shares of Marathon Oil have traded between a low of $6.52 and a high of $31.53 and closed yesterday at $15.09, which is 131% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 4.0%.

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 $15.09, or 35.8% below the average consensus analyst price target of $23.49. The stock should find initial support at its 200-day moving average (MA) of $14.19 and further support at its 50-day MA of $11.58.

SmarTrend recommended that subscribers consider buying shares of Marathon Oil on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.76. Since that recommendation, shares of Marathon Oil have risen 5.2%. 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