Sunday, June 26, 2022

Selling Buzz: Marathon Oil Corporation [MRO] Executive VP and CFO Whitehead Dane E sells 30,291 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Marathon Oil Corporation shares valued at $849,042 were sold by Whitehead Dane E on May 18. At $28.03 per share, Whitehead Dane E sold 30,291 shares. The insider’s holdings dropped to 290,934 shares worth approximately $6.72 million following the completion of this transaction.


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Also, Whitehead Dane E sold 79,711 shares, netting a total of over 2,246,399 in proceeds. Following the sale of shares at $28.18 each, the insider now holds 321,225 shares.

Before that, WAGNER PATRICK had sold 65,218 shares from its account. In a trade valued at $1,671,609, the insider traded Marathon Oil Corporation shares for $25.63 each. Upon closing the transaction, the insider’s holdings decreased to 65,218 shares, worth approximately $4.15 million.

As published in a research note from Susquehanna on April 25, 2022, Marathon Oil Corporation [MRO] has been rated up from a Neutral to a Positive and the price target has been revised to $32. This represents a 27.81% premium over Wednesday’s closing price. Analysts at The Benchmark Company downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early March. As of February 23, 2022, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for MRO. Earlier on February 18, 2022, Scotiabank upgraded its rating. Their new recommendation was “a Sector outperform” for MRO stock which previously was a “a Sector perform”.

Analyzing MRO’s Price Performance

On Wednesday, Marathon Oil Corporation [NYSE: MRO] plunged -7.23% to $23.10. The stock’s lowest price that day was $22.72, but it reached a high of $23.97 in the same session. During the last five days, there has been a drop of approximately -19.76%. Over the course of the year, Marathon Oil Corporation shares have jumped approximately 40.68%. Shares of the company reached a 52-week high of $33.24 on 05/31/22 and a 52-week low of $16.40 on 01/03/22. A 50-day SMA is recorded $27.40, while a 200-day SMA reached $20.52. Nevertheless, trading volume fell to 29.27 million shares from 28.69 million shares the previous day.

Support And Resistance Levels for Marathon Oil Corporation (MRO)

According to the 24-hour chart, there is a support level at 22.56, which, if violated, would cause prices to drop to 22.01. In the upper region, resistance lies at 23.81. The next price resistance is at 24.51. RSI (Relative Strength Index) is 30.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.74, which suggests the price will decrease in the coming days. Percent R is at 96.09%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Marathon Oil Corporation subject to short interest?

Stocks of Marathon Oil Corporation saw a sharp steep in short interest on Apr 28, 2022 dropping by -0.72 million shares to 16.64 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 17.36 million shares. A decline of -4.33% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.93 of the overall float, the days-to-cover ratio (short ratio) decline to 0.93.

Which companies own the most shares of Marathon Oil Corporation (MRO)?

According to The Vanguard Group, Inc. filings, the company currently owns 82,310,850 shares, which is about 11.63% of the total MRO shares outstanding. The investor’s shares have plunged by -1,760,857 from its previous 13-F filing of 84071707.0 shares. With the completion of the buy, SSgA Funds Management, Inc.’s stake is now worth $1,519,374,319. BlackRock Fund Advisors acquire a 6.98% interest valued at $1.32 billion while Hotchkis & Wiley Capital Manageme sold a -13,414,800 stake. A total of 3,894,155 shares of Marathon Oil Corporation were sold by Fidelity Management & Research Co during the quarter, and -1,068,026 were sold by Geode Capital Management LLC. In its current portfolio, Dimensional Fund Advisors LP holds 12,626,529 shares valued at $396.85 million.

In terms of Marathon Oil Corporation share price expectations, FactSet research, analysts set an average price target of $35.00 in the next 12 months, up nearly 40.56% from the previous closing price of $24.90. Analysts anticipate Marathon Oil Corporation stock to reach $43.00 by 2022, with the lowest price target being $28.00. In spite of this, 28 analysts ranked Marathon Oil Corporation stock as an Overweight at the end of 2022. On January 10, 2022, BofA Securities assigned a price target of “an Underperform” to the stock and downgraded coverage with a $19.

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