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Oil prices bounced around quite a bit in 2024. They rallied more than 20% at one point -- topping $85 per barrel -- before cooling off toward the end of the year.
Oil prices, which initially rallied but ended the year right about where they started, kept a lid on oil stocks last year. While oil stocks performed poorly last year, they could bounce back in 2025.
The purchase price represents a 14.7% premium to the closing price of Marathon on May 28, giving the company an enterprise value (market cap plus debt) of $22.5 billion.
Marathon Oil (MRO) was the best-performing stock in the entire S&P 500 in the first half. Despite the impressive run-up, the investment thesis remains attractive and it's still a good company to own.
Marathon shareholders will receive 0.255 shares of ConocoPhillips per Marathon share, amounting to a 16% premium, given the two companies' share prices before the announcement.
Marathon Oil (NYSE:MRO) is one of the many oil and gas producers pushed to the limit due to the novel coronavirus. MRO stock has shed 56% of its value since December 2019, whereas the SPDR Energy ...
Marathon Oil (MRO) closed the most recent trading day at $25.76, moving -0.66% from the previous trading session.
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