NEW YORK (TheStreet) -- Shares of Marathon Oil Corp (MRO) finished Friday's regular trading session down 2.28% to $25.92 on heavy volume, along with other energy related stocks as oil prices slumped to trade in the red.
Oil prices fell amid concerns over Greece, Reuters reports.
Also the U.S. shale oil output forecast that production would continue to grow this year, countered signs of a pickup in demand, according to Reuters.
Brent crude for August delivery was down 2.15% to $62.88 a barrel as of 4:27 p.m. ET today, while U.S. crude for July delivery was lower by 1.65% to $59.45 a barrel.
About 8.02 million shares have traded hands as of 4:23 p.m. ET today, compared to its average trading volume of about 5.73 million shares a day.
Houston, Texas-based Marathon Oil is an energy company that explores for, produces and markets crude oil and condensate and natural gas.
Separately, TheStreet Ratings team rates MARATHON OIL CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate MARATHON OIL CORP (MRO) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."