Marathon Oil Downgraded at BofA/Merrill Lynch (MRO)
Bank of America/Merrill Lynch announced on Friday that it has lowered its rating on energy company Marathon Oil Corporation (MRO).
The firm has downgraded MRO from a “Buy” to “Neutral.”
Analyst Doug Leggate reported that that he is now more cautious on U.S. refiners. He noted that the “days of $20 spreads have passed.”
Marathon Oil shares were mostly flat during pre-market trading Friday. The stock is up 15% YTD.
The Bottom Line
Shares of Marathon Oil Corporation (MRO) have a 1.88% yield based on Wednesday’s closing price of $35.17.
Marathon Oil Corporation (MRO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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