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Marathon Petroleum (MPC) Stock Sinks As Market Gains: What You Should Know
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Marathon Petroleum (MPC - Free Report) closed at $155.48 in the latest trading session, marking a -0.22% move from the prior day. This change lagged the S&P 500's 0.12% gain on the day. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the refiner had gained 9.26% over the past month. This has outpaced the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
Investors will be hoping for strength from Marathon Petroleum as it approaches its next earnings release, which is expected to be October 31, 2023. In that report, analysts expect Marathon Petroleum to post earnings of $6.45 per share. This would mark a year-over-year decline of 17.41%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.48 billion, down 27.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.81 per share and revenue of $140.85 billion. These totals would mark changes of -16.63% and -21.73%, respectively, from last year.
Any recent changes to analyst estimates for Marathon Petroleum should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.32% higher within the past month. Marathon Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Marathon Petroleum has a Forward P/E ratio of 7.15 right now. This valuation marks a discount compared to its industry's average Forward P/E of 7.5.
Meanwhile, MPC's PEG ratio is currently 1.19. 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. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 1.05 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Marathon Petroleum (MPC) Stock Sinks As Market Gains: What You Should Know
Marathon Petroleum (MPC - Free Report) closed at $155.48 in the latest trading session, marking a -0.22% move from the prior day. This change lagged the S&P 500's 0.12% gain on the day. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the refiner had gained 9.26% over the past month. This has outpaced the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
Investors will be hoping for strength from Marathon Petroleum as it approaches its next earnings release, which is expected to be October 31, 2023. In that report, analysts expect Marathon Petroleum to post earnings of $6.45 per share. This would mark a year-over-year decline of 17.41%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.48 billion, down 27.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.81 per share and revenue of $140.85 billion. These totals would mark changes of -16.63% and -21.73%, respectively, from last year.
Any recent changes to analyst estimates for Marathon Petroleum should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.32% higher within the past month. Marathon Petroleum is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Marathon Petroleum has a Forward P/E ratio of 7.15 right now. This valuation marks a discount compared to its industry's average Forward P/E of 7.5.
Meanwhile, MPC's PEG ratio is currently 1.19. 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. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 1.05 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.