Executive VP and CFO Whitehead Dane E sale 33,252 shares of Marathon Oil Corporation [MRO]

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 $864,904 were sold by Whitehead Dane E on Sep 19. At $26.01 per share, Whitehead Dane E sold 33,252 shares. The insider’s holdings dropped to 257,682 shares worth approximately $6.49 million following the completion of this transaction.


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Also, TILLMAN LEE M sold 81,390 shares, netting a total of over 2,053,470 in proceeds. Following the sale of shares at $25.23 each, the insider now holds 986,619 shares.

Before that, TILLMAN LEE M had sold 2,079 shares from its account. In a trade valued at $54,161, the Chairman, President and CEO traded Marathon Oil Corporation shares for $26.05 each. Upon closing the transaction, the insider’s holdings decreased to 2,079 shares, worth approximately $26.89 million.

As published in a research note from Citigroup on June 24, 2022, Marathon Oil Corporation [MRO] has been rated down from a Buy to a Neutral and the price target has been revised to $24 from $31. This represents a -4.92% premium over Wednesday’s closing price. Analysts at Susquehanna upgraded the stock from ‘”a Neutral”‘ to ‘”a Positive”‘ outlook in a report released in late April. As of March 02, 2022, The Benchmark Company has decreased its “Buy” rating to a “Hold” for MRO. Earlier on February 23, 2022, Piper Sandler upgraded its rating. Their new recommendation was “an Overweight” for MRO stock which previously was a “a Neutral”.

Analyzing MRO’s Price Performance

On Wednesday, Marathon Oil Corporation [NYSE: MRO] plunged -2.25% to $25.18. The stock’s lowest price that day was $25.17, but it reached a high of $26.495 in the same session. During the last five days, there has been a drop of approximately -7.97%. Over the course of the year, Marathon Oil Corporation shares have jumped approximately 53.35%. 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 $24.20, while a 200-day SMA reached $23.25. Nevertheless, trading volume fell to 10.93 million shares from 10.15 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 24.74, which, if violated, would cause prices to drop to 24.29. In the upper region, resistance lies at 26.06. The next price resistance is at 26.94. RSI (Relative Strength Index) is 47.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.37, which suggests the price will decrease in the coming days. Percent R is at 78.03%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Marathon Oil Corporation subject to short interest?

Stocks of Marathon Oil Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 5.69 million shares to 23.6 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 17.91 million shares. A jump of 24.11% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.05 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.05.

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

According to The Vanguard Group, Inc. filings, the company currently owns 78,821,178 shares, which is about 11.63% of the total MRO shares outstanding. The investor’s shares have plunged by -3,489,672 from its previous 13-F filing of 82310850.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $1,210,088,251. BlackRock Fund Advisors reduced a -7.78% interest valued at $989.18 million while Hotchkis & Wiley Capital Manageme sold a -18,101,081 stake. A total of -2,843,360 shares of Marathon Oil Corporation were sold by Fidelity Management & Research Co during the quarter, and -1,008,923 were sold by Geode Capital Management LLC. In its current portfolio, Dimensional Fund Advisors LP holds 11,637,670 shares valued at $297.81 million.

In terms of Marathon Oil Corporation share price expectations, FactSet research, analysts set an average price target of $32.40 in the next 12 months, up nearly 26.16% from the previous closing price of $25.76. Analysts anticipate Marathon Oil Corporation stock to reach $43.00 by 2022, with the lowest price target being $25.00. In spite of this, 26 analysts ranked Marathon Oil Corporation stock as an Overweight at the end of 2022. On February 18, 2022, Scotiabank assigned a price target of “a Sector outperform” to the stock and upgraded coverage with a $28.

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