Marathon Oil Corp. is being compared to Linn Energy that is about to go belly up. Linn was a $10B company and now down under $100MM with stock value going from $40/shr to just $0.28/shr. MRO has gone from $50/shr to $10/shr. it's bad enough to lose our jobs but to have all the stock we have earned become worthless hurts even worse! Question now is to jump ship and sell out or stick and hope for the best! I would prefer to be laid off before we go bankrupt so I can at least salvage something!
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Marathon oil sold today in Wyoming
Getting worried? Where have you been the last few months? By the way,MRO after the company split has never been $50/share. Yes it was bad to loose a job, then watch the stock go in the toilet. Sounds like you still have a job, be grateful.
I would sell now before it goes back to low single digits which is what will happen soon
Seadrill Ltd (NYSE:SDRL) is down 4% in pre-market trading following news that it is in talks with various firms to restructure loans and bonds worth $11 billion. The stock has fallen ~70 % y/y due to falling oil prices, curtailing demand for drilling and subsequently, equipment. As a result, bookings for the company have declined, presenting a challenge for Seadrill and many other drilling companies to repay its debt. According to a recent report, the agreement comprises of a debt-for-equity swap and issue of $1 billion + in new equity.
Additionally, oil prices fell yet again this morning due to diminished hopes that the upcoming OPEC meeting on April 17 in Doha will have any production-freeze news. On Friday, Saudi Arabia announced they would freeze production only if Iran agrees to as well. However, reported high outputs in March from both Iran and Russia represent a slim chance for a production freeze to occur.
According to TipRanks’ statistics, out of the 4 analysts who have rated the stock in the past 3 months, half are bearish and half remain neutral. The average 12-month price target for the stock is $5.75, marking an 83% upside from where shares last closed.
I wouldn't compare MRO to Linn and I would not sell your MRO stock now.