Marathon Oil Corporation (MRO) has been under a strong bear grip, hence the stock is down -9.29% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.25% in the past 1 week. The stock has risen by 1.69% in the past week indicating that the buyers are active at lower levels, but the stock is down -7.04% in the past 4 weeks.
Marathon Oil Corporation (NYSE:MRO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.47 and $13.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.87, notching a gain of 3.43% for the day. The total traded volume was 16,909,737 . The stock had closed at $13.41 on the previous day.
The stock has recorded a 20-day Moving Average of 2.46% and the 50-Day Moving Average is 1.76%. Marathon Oil Corporation is up 15.77% in the last 3-month period. Year-to-Date the stock performance stands at 11.41%.
Marathon Oil Corporation (MRO) stock is expected to deviate a maximum of $2.23 from the average target price of $18.42 for the short term period. 12 Street Experts have initiated coverage on the stock with the most promising target being $21 and the most muted being $14.
Marathon Oil Corporation is an energy company based in Houston, Texas, with operations in North America, Europe and Africa. The Company operates in three segments: North America E&P segment, which explores for, produces and markets crude oil and condensate, NGLs and natural gas in North America; International E&P segment, which explores for, produces and markets crude oil and condensate, NGLs and natural gas outside of North America and produces and markets products manufactured from natural gas, such as LNG and methanol, in Egypt and Oil Sands Mining segment, which mines, extracts and transports bitumen from oil sands deposits in Alberta, Canada, and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil. It has production operations in the United States, Egypt, Canada, the United Kingdom and Libya. The focus of its the United States operations is its three core unconventional resource plays, including the Eagle Ford, Bakken and Oklahoma Resource Basins.