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Marathon Petroleum (MPC) Stock Moves -0.86%: What You Should Know
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Marathon Petroleum (MPC - Free Report) ended the recent trading session at $147.35, demonstrating a -0.86% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.43%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 2.43%.
The refiner's stock has dropped by 1.58% in the past month, falling short of the Oils-Energy sector's loss of 1.51% and the S&P 500's loss of 1.55%.
The upcoming earnings release of Marathon Petroleum will be of great interest to investors. The company's earnings report is expected on October 31, 2023. The company is forecasted to report an EPS of $7.48, showcasing a 4.23% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $35.26 billion, indicating a 25.36% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $22.63 per share and a revenue of $142.35 billion, demonstrating changes of -13.49% and -20.9%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Petroleum. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 0.3% higher within the past month. Marathon Petroleum is currently a Zacks Rank #2 (Buy).
In terms of valuation, Marathon Petroleum is presently being traded at a Forward P/E ratio of 6.57. This expresses a discount compared to the average Forward P/E of 6.69 of its industry.
It is also worth noting that MPC currently has a PEG ratio of 1.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 0.96 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Marathon Petroleum (MPC) Stock Moves -0.86%: What You Should Know
Marathon Petroleum (MPC - Free Report) ended the recent trading session at $147.35, demonstrating a -0.86% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.43%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 2.43%.
The refiner's stock has dropped by 1.58% in the past month, falling short of the Oils-Energy sector's loss of 1.51% and the S&P 500's loss of 1.55%.
The upcoming earnings release of Marathon Petroleum will be of great interest to investors. The company's earnings report is expected on October 31, 2023. The company is forecasted to report an EPS of $7.48, showcasing a 4.23% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $35.26 billion, indicating a 25.36% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $22.63 per share and a revenue of $142.35 billion, demonstrating changes of -13.49% and -20.9%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Petroleum. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 0.3% higher within the past month. Marathon Petroleum is currently a Zacks Rank #2 (Buy).
In terms of valuation, Marathon Petroleum is presently being traded at a Forward P/E ratio of 6.57. This expresses a discount compared to the average Forward P/E of 6.69 of its industry.
It is also worth noting that MPC currently has a PEG ratio of 1.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 0.96 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.