Marathon Oil (MRO) Stock Slips on Declining Oil Prices

Oil is falling today on concerns over a global supply glut, weighing on Marathon Oil (MRO) stock.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Marathon Oil (MRO) - Get Report  are down 1.35% to $14.23 in early-afternoon trade as oil prices slip.

Crude oil (WTI) is down 2.06% to $43.83 per barrel and Brent crude is falling 2.03% to $45.26 per barrel.

Oil is headed for a weekly loss today, with Brent crude hitting a two-month low.

Weighing on the commodity price is a global oil glut. Iraq's oil exports are looking to rise in July, CNBC reports. U.S. government data also revealed that crude inventories are at a historically high 5.19 million barrels for this time of year.

Also, the Baker Hughes (BHI) rig count revealed that the number of U.S. rigs in operation this week increased by 15 to 462.

Marathon Oil is a Houston-based exploration and production company.

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 rated this stock as a "sell" with a ratings score of D.

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

Loading ...