Upgrade Alert for Marathon Oil (MRO)
Marathon Oil (NYSE:MRO) was upgraded from Underperform to Peer Perform at Wolfe Research today. The stock closed yesterday at $13.66 on volume of 23.9 million shares, below average daily volume of 26.2 million.
Marathon Oil has overhead space with shares priced $13.66, or 41.8% below the average consensus analyst price target of $23.49. Marathon Oil shares should encounter resistance at the 200-day moving average (MA) of $14.19 and support at the 50-day MA of $11.58.
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 share prices have moved between a 52-week high of $31.53 and a 52-week low of $6.52 and closed yesterday at 110% above that low price at $13.66 per share. 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%.
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 6.0%. 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