Marathon Oil Announces STACK Acquisition

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UBS Raises Price Target on Marathon Oil (MRO) Following PayRock Energy Purchase Agreement

June 21, 2016 7:55 AM EDT

UBS reiterated a Buy rating on Marathon Oil (NYSE: MRO), and raised the price target to $17.00 (from $16.00), following the company's agreement to purchase privately held PayRock Energy for $888MM.

Analyst William Featherston commented, "MRO agreed to purchase privately held PayRock Energy for $888MM,... More