Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Marathon Oil (MRO)
Incorporated in 2001, Houston, Texas-based Marathon Oil Corporation is a leading oil and natural gas exploration and production (‘E&P’) company with operations in the United States and Africa. As of the end of 2023, Marathon Oil had approximately 1,320 million oil-equivalent barrels in net proved reserves (73% crude oil/condensate and 62% proved developed), and 93% were located in the United States. In 2023, the company’s overall production from continuing operations was 405,000 net barrels of oil equivalent per day. Approximately 88% of Marathon Oil’s 2023 volumes came from the U.S.
MRO is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 2.1% over the past one week and up 4.2% over the past four weeks. MRO has gained 16.2% in the last one-year period as well. Looking at trading volume, an average of 11,636,089 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For MRO, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.10 to $2.83 per share for 2024. MRO boasts an average earnings surprise of 10.1%.
Investors should take the time to consider MRO for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Marathon Oil Corporation (MRO) : Free Stock Analysis Report
