November 3, 2016 - 10:36 AM EDT
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Marathon Oil Corporation (MRO) Boosts Basic Materials Sector with Early Advance of 10.8% on November 3

Marathon Oil Corporation (MRO” target=”_new”>MRO) is one of the best performing stocks in the basic materials sector for companies listed on the New York Stock Exchange or NASDAQ exchange shortly after the opening bell on November 3. Shares of MRO” target=”_new”>MRO have climbed 10.8% about 30 minutes into the session to $14.16 after closing the day prior at $12.78. It’s early, but the stock has traded as high as $14.76 and as low as $13.71 so far. Today’s quick advance has come with about 3.25 million shares changing hands, compared to an average 30-day volume of 16.08 million for Marathon Oil Corporation. The price is currently below the 30-day volume weighted average price of $14.22 for MRO” target=”_new”>MRO.

The share appreciation gives the company a market capitalization of $10.83 billion based upon 847.26 million shares outstanding. It also means that MRO has a price-to-book ratio of 0.59:1 and a price-to-earnings ratio of :1.

In the past 52 weeks, shares of MRO” target=”_new”>MRO have traded as low as $6.52 and as high as $19.95. Technical traders will take note that at $14.16, shares of MRO” target=”_new”>MRO are trading above their 200-day MA at $12.87 and below their 50-day MA at $14.91. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is MRO?

Marathon Oil Corp is an energy company engaged in the exploration, production and marketing of liquid hydrocarbons and natural gas, production and marketing of products manufactured from natural gas and oil sands mining. The company’s 2611 employees are led by CEO Lee M. Tillman from the corporate headquarters at 5555 San Felipe Street.

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Source: Financial Press News (November 3, 2016 - 10:36 AM EDT)

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