NEW YORK (TheStreet) -- Shares of Marathon Oil (MRO - Get Report) were falling in early-afternoon trading on Monday as Barclays reduced its rating on Marathon stock to "equal weight" from "overweight" and trimmed its price target to $17 from $18.
Barclays said that Marathon "is a much improved company at an attractive multiple - but a growth shortfall vs. peers may result in the shares lagging better positioned peers."
Additionally, oil prices were falling on Monday as concerns over a global oversupply grew, Reuters notes.
Crude oil (WTI) was down 1.13% to $49.78 per barrel while Brent crude was lower by 0.96% to $51.45 per barrel this afternoon.
"Record supply from OPEC year-to-date, weaker global GDP estimates, and still elevated inventories cause us to lower and flatten our oil price outlook," Bernstein's energy team said in a note cited by Reuters.
A stronger U.S. dollar also weighed on oil prices today. A stronger dollar makes commodities priced in the greenback more expensive to foreign buyers.
But expectations that OPEC will cut production next month limited losses, Reuters added. OPEC agreed in September to reduce production to between 32.5 million barrels per day and 33 million barrels per day in total in November.
Marathon is a Houston-based oil 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 weak operating cash flow, generally disappointing historical performance in the stock itself and disappointing return on equity.
You can view the full analysis from the report here: MRO