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Upgrade Alert for Marathon Oil (MRO)

By James Quinn

Marathon Oil (NYSE:MRO) was upgraded from Equalweight to Overweight at Capital One today. The stock closed yesterday at $15.09 on volume of 34.3 million shares, above 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.

There is potential upside of 55.7% for shares of Marathon Oil based on a current price of $15.09 and an 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.

Over the past year, Marathon Oil has traded in a range of $6.52 to $31.53 and closed yesterday at $15.09, 131% above that low. The 200-day and 50-day moving averages have moved 1.52% lower and 3.97% higher over the past week, respectively.

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