Marathon Oil Corporation ($MRO) Stock Forecast: Up 8.0% Today

What is Marathon Oil Corporation?

Marathon Oil Corporation (MRO) is a leading independent exploration and production company in the United States, with operations focused on unconventional resource plays. Today, the stock experienced a strong bullish movement.

Why is Marathon Oil Corporation going up?

MRO stock is up 8.0% on May 29, 2024 19:25

• A $17 billion all-stock deal was announced for the acquisition of Marathon Oil by ConocoPhillips, expanding its presence in domestic shale fields and adding reserves in Equatorial Guinea.
• The acquisition opportunity recently emerged, underlining the unpredictable nature of such business agreements.
• The positive sentiment surrounding the deal, coupled with rising energy prices, could be driving the bullish movement of Marathon Oil's stock as major oil companies like ConocoPhillips anticipate significant profits.
• Despite the prevailing bearish market sentiment with US stocks opening lower due to pressure from rising yields, investor optimism in Marathon Oil's stock seems to have surged following the acquisition news.

MRO Price Chart

MRO News

US explorer ConocoPhillips to buy Marathon Oil in $17 billion deal

The move expands ConocoPhillips'' footprint in domestic shale fields from Texas to North Dakota and hands the company reserves as far afield as Equatorial Guinea. It adds to a wave of recent megadeals as producers seek new drilling sites on a bet that oil and gas demand will remain robust for years to come.

https://economictimes.indiatimes.com/news/international/business/us-explorer-conocophillips-to-buy-marathon-oil-in-17-billion-deal/articleshow/110543192.cms

ConocoPhillips CEO says Marathon opportunity came to his attention a few weeks ago

ConocoPhillips CEO discusses the recent Marathon Oil deal opportunity during a conference call, highlighting the unpredictable nature of such opportunities…

https://seekingalpha.com/news/4111164-conocophillips-ceo-says-marathon-opportunity-came-to-his-attention-a-few-weeks-ago?feed_item_type=news

American Airlines, Advance Auto Parts fall; Chewy, Dick’s Sporting Goods rise, Wednesday, 5/29/2024

NEW YORK (AP) — Stocks that are trading heavily or have substantial price changes on Wednesday: ConocoPhillips (COP), down $4.74 to $114.22. The energy company is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion. Robinhood Markets Inc. (HOOD), up 10 cents to $20.57. The online broker announced a $1 billion stock buyback plan. Dick’s Sporting Goods Inc. (DKS), up $31.46 to $226.46. The sporting goods retailer raised its earnings forecast for the year. American Airlines Group Inc. (AAL), down $1.99 to $11.45. The airline cut its earnings forecast for the current quarter and said its chief commercial officer is leaving the company. Chewy Inc. (CHWY), up $4.65 to $21.56. The online pet store beat analysts’ first-quarter earnings forecasts and announced a $500 million buyback. Advance Auto Parts Inc. (AAP), down $6.08 to $64.10. The auto parts retailer’s first-quarter earnings and revenue fell short of analysts’ forecasts. Box Inc. (BOX), up $2.23 to $27.27. The online storage provider’s first-quarter earnings and revenue beat Wall Street forecasts.

https://www.kaaltv.com/news/business-news/american-airlines-advance-auto-parts-fall-chewy-dicks-sporting-goods-rise-wednesday-5-29-2024/

ConocoPhillips Buying Marathon Oil for $17.1B in All-stock Deal

By MICHELLE CHAPMAN AP Business Writer ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits. The deal is valued at $22.5 billion when including…

https://businessjournaldaily.com/conocophillips-buying-marathon-oil-for-17-1b-in-all-stock-deal/

US stocks open lower on pressure from rise in yields

NEW YORK: Wall Street stocks tumbled in early trading Wednesday, as US Treasury yields remained elevated and investors awaited the release of the Federal Reserve’s summary of economic conditions. The Dow Jones Industrial Average plunged 0.9 percent to 38,503.12, while the broad-based S&P 500 Index slid 0.8 percent to 5,264.28. The tech-heavy Nasdaq Composite Index fell 0.8 percent to 16,879.80. This came as the yield on the 10-year US Treasury note hit 4.6 percent, signaling expectations that the US central bank could keep interest rates high. US stocks mixed at start of holiday-shortened week The yield on the two-year Treasury note was above 4.9 percent. On Wednesday afternoon, the Fed is due to release its report on the US economy known as the “beige book.” “Softness among the mega-cap stocks” is adding pressure to the market as well, noted Patrick O’Hare of Briefing.com. Among individual companies, Nvidia shares dropped around 2.1 percent after a rally the day before on reports that Elon Musk’s xAI plans to purchase chips from it.

https://www.brecorder.com/news/40305867/us-stocks-open-lower-on-pressure-from-rise-in-yields

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Marathon Oil Corporation Price History

09.09.2023 - MRO Stock was up 5.1%

• The overall outlook for oil and gas stocks is positive, with expectations of a strong rally in the coming months.
• Analysts at Bank of America predict that oil prices may reach $100 per barrel before 2024, which could contribute to the bullish movement in Marathon Oil.
• The company's impressive earnings surprise history and the anticipation of a beat in its next quarterly report could also be driving the bullish market movement.
• It's worth noting that the sale of shares by the Executive VP and CFO may not have had a significant impact on the overall market movement.

29.04.2024 - MRO Stock was up 8.0%

• A $17 billion all-stock deal was announced for the acquisition of Marathon Oil by ConocoPhillips, expanding its presence in domestic shale fields and adding reserves in Equatorial Guinea.
• The acquisition opportunity recently emerged, underlining the unpredictable nature of such business agreements.
• The positive sentiment surrounding the deal, coupled with rising energy prices, could be driving the bullish movement of Marathon Oil's stock as major oil companies like ConocoPhillips anticipate significant profits.
• Despite the prevailing bearish market sentiment with US stocks opening lower due to pressure from rising yields, investor optimism in Marathon Oil's stock seems to have surged following the acquisition news.

29.04.2024 - MRO Stock was up 11.2%

• The merger proposal between Marathon Oil and ConocoPhillips has captured the attention and optimism of investors.
• ConocoPhillips' acquisition agreement with Marathon Oil in a multi-billion dollar transaction has generated enthusiasm and speculation among traders.
• The rise in Marathon Oil's stock value may be linked to the anticipated benefits and synergies from the planned merger with ConocoPhillips.
• The energy sector as a whole is likely experiencing a bullish trend due to recent M&A activities and the upward trend in energy prices, bolstering investor confidence in companies such as Marathon Oil.

16.10.2023 - MRO Stock was down 5.4%

• The bearish movement in MRO's stock today could be attributed to the following factors:
• 1. Despite beating Q3 earnings estimates and reporting robust production, the market may have reacted negatively to Marathon Oil's capital and exploratory expenditures, which amounted to $4499 million. This could have raised concerns about the company's spending and future profitability.
• 2. The overall bearish sentiment in the oil and gas industry due to factors such as declining oil prices and geopolitical tensions could have also influenced MRO's stock movement.
• 3. The beta (5Y monthly) of MRO, which stands at 2.31, indicates that the stock is more volatile than the overall market. This could have contributed to the sharp bearish movement observed today.

29.04.2024 - MRO Stock was up 11.4%

• MRO stock surged due to the announcement of ConocoPhillips acquiring Marathon Oil in an all-stock transaction valued at $22.5 billion.
• The acquisition is seen as a strategic move by ConocoPhillips to deepen its portfolio and strengthen its position in the US oil sector.
• The deal, which includes a 14.7% premium to Marathon Oil's closing share price, reflects the ongoing trend of major acquisitions reshaping the US oil market.
• Investors reacted positively to the news, driving up Marathon Oil's stock price as the acquisition is expected to bring synergies and growth opportunities for both companies.

29.04.2024 - MRO Stock was up 11.0%

• MRO stock surged due to the announcement of ConocoPhillips acquiring Marathon Oil in an all-stock deal valued at $22.5 billion, including debt.
• The 14.7% premium offered by ConocoPhillips to Marathon shareholders contributed to the bullish momentum.
• The market reacted positively to the acquisition news, as it signifies a significant consolidation within the energy sector, potentially leading to increased operational efficiencies and synergies.
• The investigation regarding the fairness of the merger might have caused some uncertainty among investors, but the overall market sentiment remained bullish due to the strategic implications of the deal.

29.04.2024 - MRO Stock was up 9.1%

• MRO stock experienced a bullish movement following the announcement of ConocoPhillips' acquisition deal valued at $17.1 billion.
• The energy sector saw increased activity and consolidation as companies like ConocoPhillips look to expand their assets in response to rising energy prices.
• The overall market sentiment was bearish, with US stocks opening lower due to pressure from rising Treasury yields and concerns about the Federal Reserve's upcoming economic report.
• Despite the broader market conditions, MRO's bullish movement can be attributed to the positive outlook surrounding the acquisition deal and the potential synergies it may bring to both companies in the evolving oil and gas industry.

29.04.2024 - MRO Stock was up 11.7%

• The rise in MRO stock could be attributed to the announcement of a proposed merger with ConocoPhillips in an all-stock transaction valued at around $30.33 per share.
• Investor optimism and confidence in the energy sector have been boosted by the news of ConocoPhillips acquiring Marathon Oil in a $22.5 billion deal.
• The positive sentiment surrounding MRO stock is also influenced by the ongoing trend of consolidation in the energy industry, including recent mega-mergers.
• The merger between ConocoPhillips and Marathon Oil is seen as a strategic move to enhance their positions in the oil and gas market, increasing investor interest and driving the bullish movement in MRO stock.

29.04.2024 - MRO Stock was up 10.8%

• MRO stock surged due to the announcement of a definitive deal where ConocoPhillips will acquire Marathon Oil in an all-stock transaction at a 14.7% premium, boosting investor confidence in the company's future prospects.
• The rising bond yields and decreasing odds of a rate cut in September have put pressure on the stock market, but the positive news of the acquisition by ConocoPhillips overshadowed these concerns, leading to the bullish movement in MRO stock.
• The market reacted positively to the acquisition news, with Marathon Oil shareholders set to receive ConocoPhillips shares, indicating a strategic move that could potentially benefit both companies in the long run.
• The deal with ConocoPhillips and the subsequent surge in MRO stock price showcases the impact of strategic partnerships and acquisitions on stock performance, highlighting the importance of corporate actions in influencing market movements.

07.10.2023 - MRO Stock was down 5.1%

• The bearish movement in MRO's stock could be attributed to the decrease in profit for the third quarter, as mentioned in an article from Finanz Nachrichten. Despite beating analysts' estimates, the decline in profit might have influenced investor sentiment.
• The impact of the COVID-19 pandemic on the demand for oil globally, as mentioned in an article from Reuters, could have also contributed to the bearish market movement. The drop in demand and the subsequent decrease in oil and gas activity may have raised concerns among investors.
• The article mentioning MRO as a "Free Cash Flow Machine and Portfolio Hedge" (an article from Seeking Alpha) might not have had a significant impact on the market movement, as it seems to focus more on the long-term potential of the company rather than immediate market conditions.
• The earnings call transcript (an article from Seeking Alpha) may provide further insights into the company's performance, but without specific details mentioned in the headlines, it is difficult to determine its influence on the bearish movement.
• Overall, the bearish market movement in MRO's stock today could be attributed to the decrease in profit and the impact of the COVID-19 pandemic on the oil industry.

29.04.2024 - MRO Stock was up 9.7%

• Marathon Oil's stock surged following the announcement of a $17.1 billion acquisition by ConocoPhillips in an all-stock deal, with an enterprise value of approximately $22.5 billion.
• The market reacted positively to the acquisition news, highlighting significant consolidation within the oil industry and potential synergies between the two companies.
• The premium offered for Marathon Oil shares by ConocoPhillips further reinforced investor confidence in the deal, contributing to the bullish movement in MRO stock.
• Shareholder concerns and investigations into the deal's fairness may influence the stock's performance in the near future, contingent upon the results of the inquiries.

29.04.2024 - MRO Stock was up 8.9%

• The positive movement in Marathon Oil's stock price is a result of its acquisition by ConocoPhillips, which is viewed favorably as a strategic move to enhance assets and industry positioning.
• The merger between the two companies creates a significant player in the shale sector, with potential synergies and efficiencies expected to drive future growth and profitability.
• Investors are optimistic about the benefits and market positioning that the ConocoPhillips-Marathon Oil deal offers amid rising energy prices and industry consolidation, contributing to the bullish market sentiment towards Marathon Oil's stock.