Marathon Oil Corporation MRO shares are trading higher by 1.4% at $13.54 Thursday morning after RBC Capital upgraded the company's stock from Sector Perform to Outperform and raised its price target from $14 to $18.
Marathon is an independent exploration and production company primarily focusing on unconventional resources in the United States. At the end of 2020, the company reported net proved reserves of 972 million barrels of oil equivalent.
Net production for Marathon Oil averaged 383 thousand barrels of oil equivalent per day in 2020 at a ratio of 67% oil and NGLs and 33% natural gas.
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