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Why Did Marathon Oil and Newfield Fall on November 27?


Nov. 29 2017, Updated 10:33 a.m. ET

Marathon Oil 

Marathon Oil (MRO) explores and produces petroleum and natural gas. It was the S&P 500’s second-worst performer on November 27. Marathon Oil closed last week with profits amid the improved market sentiment. However, it opened lower on Monday and fell to one-week low price levels.

The sentiment on Marathon Oil weakened at the beginning of the month amid the release of the weaker-than-expected quarterly earnings report. Marathon Oil reported a loss of $599 million in 3Q17. On Monday, it opened lower amid weakness in the energy sector, which leads to a sell-off in energy stocks. Despite weakness on Monday and quarterly losses in 2017, the long-term market sentiment is strong amid Marathon Oil’s progress in 2017.

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Its improved production profile, cash flows, and measures taken to reduce debt are expected to strengthen the stock prices. Amid the improved market forecast for oil prices in 2018, Marathon Oil is expected to benefit from oil’s rise in the coming quarters. On November 27, Marathon Oil fell 4.3% and closed the day at $14.48.

Newfield Exploration

Amid weakness in oil prices, Newfield Exploration (NFX) fell on Monday. The company explores and produces petroleum, natural gas, and natural gas liquids. Newfield Exploration fell 3.4% and closed the day at $29.69, which is a ten-day low price level. Marathon Oil and Newfield Exploration are part of the S&P 500 Energy Sector Index, which fell 1.0% on Monday.


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