Why Marathon Oil Stock Tanked 27% in February
Shares of Marathon Oil (NYSE: MRO) tumbled 27.2% in February, according to data provided by S&P Global Market Intelligence. Among the factors weighing on the oil company's stock were its fourth-quarter earnings, its outlook for 2020, and oil prices.
Marathon Oil reported its fourth-quarter results last month. It posted $0.07 per share of adjusted earnings, which missed the analysts' consensus estimate by $0.03 per share. While its U.S. oil production rose 9% year over year after adjusting for asset sales, sinking oil and gas prices weighed on profitability.
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Source Fool.com
