Goldman Sachs Upgrades Marathon Oil (MRO) to Buy, Cites Executions in Shale Plays

Goldman Sachs upgraded Marathon Oil (NYSE: MRO) from Neutral to Buy with a price target of $39.00 (from $35.00).

"We believe improved execution and progress in the Eagle Ford and Bakken shale plays favorably differentiates Marathon from other domestic oil companies," the analyst said. "Capital intensity metrics (i.e., CAPEX/production) are expected to fall further in 2013 to below average levels versus North America oil peers, while we think Marathon is on-track to deliver a competitive mid-single digit annual E&P volume growth rate over the medium term."

For an analyst ratings summary and ratings history on Marathon Oil click here. For more ratings news on Marathon Oil click here.

Shares of Marathon Oil closed at $30.19 yesterday.

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