We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Marathon Petroleum (MPC) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
Marathon Petroleum (MPC - Free Report) closed at $196.38 in the latest trading session, marking a +0.7% move from the prior day. This change outpaced the S&P 500's 0.88% loss on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
Shares of the refiner have depreciated by 2.1% over the course of the past month, underperforming the Oils-Energy sector's gain of 2.78% and outperforming the S&P 500's loss of 2.57%.
Investors will be eagerly watching for the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. In that report, analysts expect Marathon Petroleum to post earnings of $2.53 per share. This would mark a year-over-year decline of 58.46%. Meanwhile, our latest consensus estimate is calling for revenue of $31.26 billion, down 10.88% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $19.42 per share and revenue of $127.91 billion, indicating changes of -17.82% and -14.9%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Marathon Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 32.3% higher. Marathon Petroleum is currently a Zacks Rank #2 (Buy).
Digging into valuation, Marathon Petroleum currently has a Forward P/E ratio of 10.04. For comparison, its industry has an average Forward P/E of 11.63, which means Marathon Petroleum is trading at a discount to the group.
It's also important to note that MPC currently trades at a PEG ratio of 1.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MPC's industry had an average PEG ratio of 1.69 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Marathon Petroleum (MPC) Ascends While Market Falls: Some Facts to Note
Marathon Petroleum (MPC - Free Report) closed at $196.38 in the latest trading session, marking a +0.7% move from the prior day. This change outpaced the S&P 500's 0.88% loss on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
Shares of the refiner have depreciated by 2.1% over the course of the past month, underperforming the Oils-Energy sector's gain of 2.78% and outperforming the S&P 500's loss of 2.57%.
Investors will be eagerly watching for the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. In that report, analysts expect Marathon Petroleum to post earnings of $2.53 per share. This would mark a year-over-year decline of 58.46%. Meanwhile, our latest consensus estimate is calling for revenue of $31.26 billion, down 10.88% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $19.42 per share and revenue of $127.91 billion, indicating changes of -17.82% and -14.9%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Marathon Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 32.3% higher. Marathon Petroleum is currently a Zacks Rank #2 (Buy).
Digging into valuation, Marathon Petroleum currently has a Forward P/E ratio of 10.04. For comparison, its industry has an average Forward P/E of 11.63, which means Marathon Petroleum is trading at a discount to the group.
It's also important to note that MPC currently trades at a PEG ratio of 1.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MPC's industry had an average PEG ratio of 1.69 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.