September 8, 2016 - 10:34 PM EDT
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Midday Update: Marathon Oil Corporation (MRO) Charges Ahead 4.78% on September 8

Marathon Oil Corporation (MRO) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on September 8. At the lunch break, shares of MRO have gained 4.78% to $16.44 after closing the day prior at $15.69. In the first two and a half hours of trading, the stock has gone as high as $16.5 and as low as $15.77. Today's rise has come with about 11.56 million shares changing hands, compared to an average 30-day volume of 17.07 million for Marathon Oil Corporation. The price is currently below the 30-day volume weighted average price of $16.09 for MRO. The share appreciation gives the company a market capitalization of $13.29 billion based upon 847.26 million shares outstanding. It also means that MRO has a price-to-book ratio of :1. In the past 52 weeks, shares of MRO have traded as low as $6.52 and as high as $20.44. Technical traders will take note that at $16.44, shares of MRO are trading above their 200-day MA at $12.57 and above their 50-day MA at $14.82. 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 in Houston, TX. For more information on MRO and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.


Source: Financial Press News (September 8, 2016 - 10:34 PM EDT)

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