Marathon Oil Corporation [MRO] Executive VP and CFO makes an insider sale of 90,588 shares worth 2,913,149.


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Marathon Oil Corporation shares valued at $2,913,149 were sold by Whitehead Dane E on Nov 16. At $32.16 per share, Whitehead Dane E sold 90,588 shares. The insider’s holdings dropped to 182,700 shares worth approximately $4.71 million following the completion of this transaction.

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Also, TILLMAN LEE M sold 30,000 shares, netting a total of over 974,691 in proceeds. Following the sale of shares at $32.49 each, the insider now holds 886,219 shares.

Before that, Warnica Kimberly O. had sold 5,000 shares from its account. In a trade valued at $163,575, the insider traded Marathon Oil Corporation shares for $32.72 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $1.6 million.

As published in a research note from The Benchmark Company on February 16, 2023, Marathon Oil Corporation [MRO] has been rated up from a Hold to a Buy and the price target has been revised to $32. This represents a 19.41% premium over Wednesday’s closing price. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in late January. As of January 24, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for MRO. Earlier on January 10, 2023, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for MRO stock which previously was a “a Buy”.

Analyzing MRO Stock Performance

On Wednesday, Marathon Oil Corporation [NYSE: MRO] rose 2.54% to $25.79. The stock’s lowest price that day was $25.08, but it reached a high of $25.985 in the same session. During the last five days, there has been a surge of approximately 2.71%. Over the course of the year, Marathon Oil Corporation shares have dropped approximately -4.73%. Shares of the company reached a 52-week high of $32.54 on 01/24/23 and a 52-week low of $24.78 on 01/04/23. A 50-day SMA is recorded $26.77, while a 200-day SMA reached $26.62. Nevertheless, trading volume fell to 7.39 million shares from 11.83 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 25.25, which, if violated, would cause prices to drop to 24.71. In the upper region, resistance lies at 26.16. The next price resistance is at 26.52. RSI (Relative Strength Index) is 45.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.51, which suggests the price will decrease in the coming days. Percent R is at 68.81%, indicating low 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 steep in short interest on Jan 30, 2023 dropping by -4.19 million shares to 16.18 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 20.37 million shares. A decline of -25.9% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.78 of the overall float, the days-to-cover ratio (short ratio) decline to 1.78.

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

According to The Vanguard Group, Inc. filings, the company currently owns 71,667,989 shares, which is about 11.29% of the total MRO shares outstanding. The investor’s shares have plunged by -4,528,356 from its previous 13-F filing of 76196345.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $1,244,370,700. BlackRock Fund Advisors reduced a -6.90% interest valued at $988.57 million while Fidelity Management & Research Co purchased a 258,848 stake. A total of 421,238 shares of Marathon Oil Corporation were bought by Geode Capital Management LLC during the quarter, and -2,343,319 were sold by Hotchkis & Wiley Capital Manageme. In its current portfolio, Wellington Management Co. LLP holds 9,569,344 shares valued at $262.87 million.

In terms of Marathon Oil Corporation share price expectations, FactSet research, analysts set an average price target of $34.22 in the next 12 months, up nearly 37.18% from the previous closing price of $25.15. Analysts anticipate Marathon Oil Corporation stock to reach $48.00 by 2023, with the lowest price target being $27.00. In spite of this, 30 analysts ranked Marathon Oil Corporation stock as an Overweight at the end of 2023. On January 05, 2023, Evercore ISI assigned a price target of “an Outperform” to the stock and resumed coverage with a $35.


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