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 $1,033,900 were sold by Henderson Michael A on Sep 06 ’24. At $27.21 per share, Henderson Michael A sold 38,000 shares. The insider’s holdings dropped to 76,828 shares worth approximately $2.0 million following the completion of this transaction.
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Also, Henderson Michael A purchased 38,000 shares, netting a total of over 1,033,907 in proceeds.
Before that, WAGNER PATRICK had sold 36,094 shares from its account. In a trade valued at $997,887, the insider traded Marathon Oil Corporation shares for $27.65 each. Upon closing the transaction, the insider’s holdings decreased to 36,094 shares, worth approximately $3.66 million.
As published in a research note from Scotiabank on July 12, 2024, Marathon Oil Corporation [MRO] has been rated down from a Sector outperform to a Sector perform and the price target has been revised to $29 from $45. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early April. As of March 14, 2024, Argus has increased its “Hold” rating to a “Buy” for MRO. Earlier on December 11, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for MRO stock which previously was a “an Overweight”.
Analyzing MRO Stock Performance
During the last five days, there has been a drop of approximately -4.03%. Over the course of the year, Marathon Oil Corporation shares have jumped approximately 7.53%. Shares of the company reached a 52-week high of $30.06 on 04/12/24 and a 52-week low of $21.81 on 01/18/24. A 50-day SMA is recorded $27.79, while a 200-day SMA reached $26.27. Nevertheless, trading volume fell to 5.57 million shares from 5.88 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 25.76, which, if violated, would cause prices to drop to 25.55. In the upper region, resistance lies at 26.16. The next price resistance is at 26.35. RSI (Relative Strength Index) is 33.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.42, which suggests the price will decrease in the coming days. Percent R is at 87.54%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
