UPDATE: Benchmark Upgrades Marathon Oil to Hold

Benchmark is out with its report today on Marathon Oil (NYSE: MRO), upgrading MRO from Sell to Hold.

In its report, Benchmark writes, "We are raising our investment rating on Marathon Oil from SELL to HOLD due primarily to valuation related effects in the context of a modest upward revision in to our normalized ($70 per barrel) net asset value assessment."

At the time of posting, shares of MRO were trading pre-market at $22.26, down 0.27% from Thursday's close.