An Analysis of Marathon Oil Corporation (MRO)’s Potential Price Growth


Marathon Oil Corporation’s recently made public that its Executive VP, Operations Henderson Michael A unloaded Company’s shares for reported $0.54 million on Sep 01. In the deal valued at $26.91 per share,20,000 shares were sold. As a result of this transaction, Henderson Michael A now holds 131,254 shares worth roughly $ 3.53 million.

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Then, WAGNER PATRICK sold 34,756 shares, generating $899,610 in total proceeds. Upon selling the shares at $25.88, the insider now owns 167,533 shares.

Before that, Whitehead Dane E sold 50,000 shares. Marathon Oil Corporation shares valued at $1,288,080 were divested by the Executive VP and CFO at a price of $25.76 per share. As a result of the transaction, Whitehead Dane E now holds 221,504 shares, worth roughly $5.96 million.

Goldman upgraded its Marathon Oil Corporation [MRO] rating to a Neutral from a a Sell in a research note published on Monday. PT values the company’s stock at a premium of -7.6 to its Monday closing price.

Price Performance Review of MRO

On Monday, Marathon Oil Corporation [NYSE:MRO] saw its stock jump 0.07% to $26.90. On the same session, the stock had its day’s lowest price of $26.64, but rose to a high of $27.22. Over the last five days, the stock has gained 2.83%. Marathon Oil Corporation shares have fallen nearly -0.63% since the year began. Nevertheless, the stocks have risen 0.37% over the past one year. While a 52-week high of $33.42 was reached on 01/24/23, a 52-week low of $20.57 was recorded on 03/16/23. SMA at 50 days reached $25.96, while 200 days put it at $25.22. A total of 8.81 million shares were traded, compared to the trading of 18.35 million shares in the previous session.

Levels Of Support And Resistance For MRO Stock

The 24-hour chart illustrates a support level at 26.62, which if violated will result in even more drops to 26.34. On the upside, there is a resistance level at 27.20. A further resistance level may holdings at 27.50. The Relative Strength Index (RSI) on the 14-day chart is 54.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.33%. Stochastics %K at 69.12% indicates the stock is a holding.

How much short interest is there in Marathon Oil Corporation?

A steep rise in short interest was recorded in Marathon Oil Corporation stocks on Aug 30, 2023, dropping by -1.54 million shares to a total of 9.66 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 11.2 million shares. There was a decline of -15.94%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.82% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.98.

Marathon Oil Corporation [MRO] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 70,117,524 shares, or roughly 11.58% of the outstanding MRO shares. In other words, the investor’s shares have fallen by -1,509,266 from its previous 13-F filing of 71626790.0. Additionally, SSgA Funds Management, Inc. decreased -5.12% of its stake after which the total value it holdings stand at $1,092,680,166, while BlackRock Fund Advisors reduced -6.15% of its stake to hold $854.22 million in the firm. Over the last quarter, Hotchkis & Wiley Capital Manageme purchased 119,850 shares of Marathon Oil Corporation, while Geode Capital Management LLC bought -74,000 shares. At present, Wellington Management Co. LLP is holding 10,796,930 shares valued at $284.5 million. Fidelity Management & Research Co owned 10,550,624 shares of the company at the time of its most recent 13F filing, worth $278.01 million.

According to FactSet, Marathon Oil Corporation’s share price will average $33.15 in the next year, based on opinions of analysts polled by the firm. This is up nearly 22.77 percent from its previous closing price of $26.88. Analysts expect Marathon Oil Corporation stock to reach the higher price of $45.00, while the lowest price estimate is $26.00. However, 29 analysts have rated MRO stock as an Overweight in their predictions for 2023.


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