Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Marathon Oil Corporation shares valued at $1,430,251 were sold by Whitehead Dane E on Sep 18 ’24. At $27.50 per share, Whitehead Dane E sold 52,008 shares. The insider’s holdings dropped to 100,000 shares worth approximately $2.85 million following the completion of this transaction.
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Also, Whitehead Dane E purchased 52,008 shares, netting a total of over 1,430,253 in proceeds.
Before that, Henderson Michael A had sold 38,000 shares from its account. In a trade valued at $1,033,900, the Executive VP, Operations traded Marathon Oil Corporation shares for $27.21 each. Upon closing the transaction, the insider’s holdings decreased to 38,000 shares, worth approximately $2.19 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 surge of approximately 3.07%. Over the course of the year, Marathon Oil Corporation shares have jumped approximately 18.17%. 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 $27.26, while a 200-day SMA reached $26.93. Nevertheless, trading volume fell to 7.85 million shares from 8.9 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 28.25, which, if violated, would cause prices to drop to 27.95. In the upper region, resistance lies at 28.91. The next price resistance is at 29.28. RSI (Relative Strength Index) is 61.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.32, which suggests the price will increase in the coming days. Percent R is at 15.68%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
