Marathon Oil Corporation: The Winning Streak Continues (MRO)

IBN Spotlights
Friday, May 27, 2022 at 7:01pm UTC

Shares of Marathon Oil Corporation (NYSE:MRO) traded today at $31.05, eclipsing its 52-week high. This new high was reached on below average trading volume as 14 million shares traded hands, while the average 30-day volume is approximately 20.3 million shares.

Marathon Oil Corporation (NYSE:MRO) defies analysts with a current price ($30.91) 60.0% above its average consensus price target of $12.38.

Over the past year, Marathon Oil Corporation has traded in a range of $10.41 to $31.05 and is now at $30.91, 197% above that low.

Marathon is an independent exploration and production company primarily focusing on unconventional resources in the United States. At the end of 2021, the company reported net proved reserves of 1.1 billion barrels of oil equivalent. Net production averaged 347 thousand barrels of oil equivalent per day in 2021 at a ratio of 70% oil and NGLs and 31% natural gas.

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