MRO stock price has started trading downward with the increased bears’ activity that caused a 1.46% price decline in one day. As the bearish trend already took its stock price slightly below its 20-day EMA, the investors can find this decline as a “buying opportunity.” Jim Cramer, the host of CNBC’s Mad Money, shares his opinion. As he said “Marathon Oil: “I think it’s a very inexpensive stock, I think you should buy it here,” earlier this week.
Will MRO Stock Price Reach Near its 50-day EMA?
According to the recent price performance of MRO stock, it has marked its opening at $25.78, then rose up to $25.88 and closed at $25.73. This clearly shows that during the recent trading session, active bears have shown their dominance. With this downward market trend, Marathon Oil Corp. stock price dropped from the 20-day EMA mark with over 8 Million volume in a day.
As the above chart shows, the downward trend in MRO stock started at the beginning of this week. This market trend also brought its RSI to slide down. As per recent price performance, it can be said that Marathon Oil Corp. stock price would stay in between its 20 and 50-day EMA near the weekend.
Earlier this month, when Marathon Oil Corp. reported its recent quarter results its stock price traveled upside. This upside trend brought its stock price to exceed the trading price mark of $26.00. However, MRO stock price dropped 1.27% in the last five days with increased bears activity.
Furthermore, the analysts have set their one-year price target at $32.41, up over 25% from the recent closing price of Marathon Oil Corp. stock. They also have their maximum estimate at $40.00 while the minimum estimate is resting at $25.00. Additionally, in the past three months, analysts have given a “buy” rating to Marathon Oil Corp.
Recent Quarter Update of Marathon Oil Corp.
Marathon Oil Corporation (NYSE: MRO), an American company, has a market cap of nearly $15.58 Billion. On August 2, 2023, the company reported its Q2 2023 result that states its net income to be $287.00 Million. Its price-to-sales ratio is 2.41 whereas it has an Enterprise Value to EBITDA ratio of 4.83.
MRO dividends are paid quarterly and its last dividend per share was $0.10. Meanwhile, at press time, the Dividend Yield (TTM)% is 1.42%.
The Q2 2023 result also highlights that MRO earnings per share (EPS) is $0.48 whereas the estimation was $0.45 which accounts for a 5.72% surprise. The company’s reported revenue in the same quarter is $1.51 Billion. For the upcoming quarter, the estimated EPS is $0.59 while the revenue is expected to reach $1.64 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/08/24/is-mro-stock-price-giving-buying-opportunity-to-investors/