Marathon Oil (MRO) NewsBite - MRO Moving Higher Following Q3 Earnings Numbers
Posted: Tuesday, November 03, 2009 1:55 PM EDT
By: Market Intelligence Center Staff
Marathon Oil (NYSE: MRO) opened at $31.71. So far today, the stock has hit a low of $31.38 and a high of $32.62. MRO is now trading at $32.44, up $.47 (1.47%). The stock hit its 52-Week high of $35.71 earlier this month and set its 52-Week low of $19.34 in March. The stock is moving higher today after it posted better than expected Q3 earnings this morning before the market open. Analysts had been expecting to see the company show earnings of 61 cents per share, but the actual earnings were 57 cents for the quarter. Technical indicators for the stock are neutral and S&P gives MRO a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on MRO the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]
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