Marathon Oil (MRO) Stock Closed Down on Retreating Oil Prices
NEW YORK (TheStreet) -- Shares of Marathon Oil (MRO) - Get Report declined 2.83% to $14.42 on Thursday after oil prices dropped 2% on oversupply fears.
Crude oil (WTI) is falling 2.62% to $44.55 per barrel and Brent crude is decreasing 2.33% to $46.07 per barrel.
Brent crude could slip further to the $42 to $43 range, Hans Van Cleef, ABN AMRO senior energy economist, told Reuters.
The sliding oil prices come as U.S. government data of record U.S. stockpiles exacerbated supply glut concerns, Reuters reports.
"The market is technically weak, inventories are still high for summer, maintenance season is not far off and we have floating barrels at sea to top it all," Pete Donovan, Liquidity Energy broker, told Reuters.
Marathon Oil is a Houston-based oil exploration and production company.
Separatey, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate MARATHON OIL CORP as a Sell with a ratings score of D. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself, disappointing return on equity and feeble growth in its earnings per share.
You can view the full analysis from the report here: MRO
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