Barclays Capital Raises Earnings Estimates for Marathon Oil (MRO)

Filed in dividend, earnings, Gold, shares by on May 11, 2010 0 Comments

Integrated oil company Marathon Oil Corporation ( MRO ) saw its earnings estimates boosted on Tuesday by analysts at Barclays Capital. The firm raised its 2010 earnings estimates for MRO to $3.10 per share, citing the recent discovery of oil in the “Flying Dutchman” area of the Gulf of Mexico. Barclays maintained its “Equal Weight” rating and $34 price target on the stock. Marathon Oil shares, which had closed at $31.58 on Monday, fell 31 cents, or -1%, in premarket trading Tuesday. The Bottom Line We have been avoiding shares of MRO since our June, 2008 coverage began and the stock was trading at $49.52. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $33-$35 price levels. We would remain on the sidelines for now. Marathon Oil Corporation ( MRO ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Barclays Capital Raises Earnings Estimates for Marathon Oil (MRO)

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