Marathon Oil (MRO) Stock Retreating on Lower Oil Prices
NEW YORK (TheStreet) -- Shares of Marathon Oil (MRO) - Get Report are down 2.64% to $14.77 in early-afternoon trading, as slightly lower oil prices weigh on some drilling stocks.
Crude oil (WTI) is down 0.88% to $44.84 per barrel and Brent crude is decreasing 0.36% to $46.79 per barrel this afternoon.
The declining oil prices come as a rallying dollar and global fuel oversupply offset forecasts for a ninth week of decreasing U.S. crude supplies, Reuters reports.
"Today's action is much of the same we have seen over the last few weeks, which is consolidating recent gains within a narrow trading range," Chris Jarvis, analyst at Caprock Risk Management, told Reuters.
The American Petroleum Institute is set to release its inventory report later today.
Marathon Oil is a Houston-based exploration and production company with operations in North America, Europe and Africa.
Separately, 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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