Marathon Oil Corporation’s recently made public that its insider WAGNER PATRICK unloaded Company’s shares for reported $1.0 million on Mar 27 ’24. In the deal valued at $27.65 per share,36,094 shares were sold. As a result of this transaction, WAGNER PATRICK now holds 140,829 shares worth roughly $4.18 million.
Then, Henderson Michael A sold 51,389 shares, generating $1,418,051 in total proceeds. Upon selling the shares at $27.59, the Executive VP, Operations now owns 114,828 shares.
Before that, Whitehead Dane E sold 73,233 shares. Marathon Oil Corporation shares valued at $1,981,619 were divested by the Executive VP and CFO at a price of $27.06 per share. As a result of the transaction, Whitehead Dane E now holds 152,008 shares, worth roughly $4.51 million.
Argus upgraded its Marathon Oil Corporation [MRO] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid December from “an Overweight” to “an Equal-weight”. Goldman also remained covering MRO and has increased its forecast on July 12, 2023 with a “Neutral” recommendation from previously “Sell” rating. UBS started covering the stock on April 19, 2023. It rated MRO as “a Buy”.
Price Performance Review of MRO
On Friday, Marathon Oil Corporation [NYSE:MRO] saw its stock jump 0.71% to $29.69. Over the last five days, the stock has gained 4.76%. Marathon Oil Corporation shares have risen nearly 22.89% since the year began. Nevertheless, the stocks have risen 15.39% over the past one year. While a 52-week high of $29.69 was reached on 04/05/24, a 52-week low of $21.63 was recorded on 01/18/24. SMA at 50 days reached $24.94, while 200 days put it at $25.25. A total of 11.04 million shares were traded, compared to the trading of 9.86 million shares in the previous session.
Levels Of Support And Resistance For MRO Stock
The 24-hour chart illustrates a support level at 29.40, which if violated will result in even more drops to 29.11. On the upside, there is a resistance level at 29.88. A further resistance level may holdings at 30.06. The Relative Strength Index (RSI) on the 14-day chart is 88.78, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.55, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.44%. Stochastics %K at 96.99% indicates the stock is a selling.
How much short interest is there in Marathon Oil Corporation?
A steep rise in short interest was recorded in Marathon Oil Corporation stocks on Mar 15, 2024, growing by 1.51 million shares to a total of 13.33 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 11.82 million shares. There was a rise of 11.33%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.73% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.24.
