The fourth-quarter earnings for Marathon Oil Corp. (MRO) surged 99%. This is of course not a surprise as rising oil prices have caused a gain in profits in both oil production and refining. Marathon Oil Corp.’s stock is up 26% this year.
Marathon Oil is just one of many companies in both the oil arena and the larger commodity world that have benefited from rising fuel and food prices. Many investors have made the switch into commodity investments as global trends point to a rise in this area.
Profits for Marathon were reported as being $706 million, or 99 cents a share. This is up from $355 million, or 50 cents a share, the previous year. Earnings in the exploration and production sectors rose 13%, due to rising liquid hydrocarbon and natural-gas prices.
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