Marathon Oil Corporation (MRO) : Traders are bullish on Marathon Oil Corporation (MRO) as it has outperformed the S&P 500 by a wide margin of 18.61% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 14.17%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 14.13% in the last 1 week, and is up 19.06% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Marathon Oil Corporation is up 28.58% in the last 3-month period. Year-to-Date the stock performance stands at 35.4%. The stock has recorded a 20-day Moving Average of 19.3% and the 50-Day Moving Average is 17.29%.
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 $16.52 and $16.48 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.80, notching a gain of 0.72% for the day. The total traded volume was 16,932,769 . The stock had closed at $16.68 on the previous day.
Also, Bank of America upgrades their rating on the shares of Marathon Oil Corporation (NYSE:MRO). The current rating of the shares is Buy. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on August 16, 2016.
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.