Crude oil (WTI) is decreasing 0.14% to $49.41 per barrel and Brent crude is down 0.36% to $49.41 per barrel this afternoon.
Oil prices declined further below the key $50 per barrel threshold today as investors booked profits from the recent rally and the dollar was stronger, the Wall Street Journal reports.
Commodities priced in dollars are more expensive to foreign currency holders when the greenback is strong.
"Speculators are clearly very cautious at these price levels," David Hufton of PVM brokerage told the Journal, adding that some Canadian output may return after outages prompted by wildfires.
"Then there is dollar strength to consider with a Federal Reserve hike in June back on the table," he added.
The Houston-based company is an exploration and production company with operations in North America, Europe and Africa.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
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.
Recently, 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.
You can view the full analysis from the report here: MRO