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 $997,887 were sold by WAGNER PATRICK on Mar 27 ’24. At $27.65 per share, WAGNER PATRICK sold 36,094 shares. The insider’s holdings dropped to 140,829 shares worth approximately $4.18 million following the completion of this transaction.
Also, Henderson Michael A sold 51,389 shares, netting a total of over 1,418,051 in proceeds. Following the sale of shares at $27.59 each, the insider now holds 114,828 shares.
Before that, Whitehead Dane E had sold 73,233 shares from its account. In a trade valued at $1,981,619, the Executive VP and CFO traded Marathon Oil Corporation shares for $27.06 each. Upon closing the transaction, the insider’s holdings decreased to 73,233 shares, worth approximately $4.51 million.
As published in their initiating research note from Barclays on April 10, 2024, Marathon Oil Corporation [MRO] has been an Overweight and the price target has been revised to $35. Analysts at Argus upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid March. As of December 11, 2023, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for MRO. Earlier on July 12, 2023, Goldman upgraded its rating. Their new recommendation was “a Neutral” for MRO stock which previously was a “a Sell”.
Analyzing MRO Stock Performance
During the last five days, there has been a surge of approximately 0.61%. Over the course of the year, Marathon Oil Corporation shares have jumped approximately 22.85%. Shares of the company reached a 52-week high of $29.81 on 04/08/24 and a 52-week low of $21.81 on 01/18/24. A 50-day SMA is recorded $25.32, while a 200-day SMA reached $25.35. Nevertheless, trading volume fell to 9.05 million shares from 9.91 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 29.29, which, if violated, would cause prices to drop to 28.91. In the upper region, resistance lies at 29.89. The next price resistance is at 30.11. RSI (Relative Strength Index) is 81.44 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.92, which suggests the price will decrease in the coming days. Percent R is at 4.55%, indicating bullish price movement. Stochastics %K at selling 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 Mar 28, 2024 jumping by 2.73 million shares to 14.89 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 12.16 million shares. A jump of 18.33% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.46 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.46.
