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Marathon Petroleum (MPC) Dips More Than Broader Market: What You Should Know
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The most recent trading session ended with Marathon Petroleum (MPC - Free Report) standing at $152, reflecting a -1.38% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.56%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 0.59%.
The refiner's stock has climbed by 0.23% in the past month, exceeding the Oils-Energy sector's loss of 2.83% and lagging the S&P 500's gain of 1.2%.
The upcoming earnings release of Marathon Petroleum will be of great interest to investors. The company's earnings report is expected on January 30, 2024. On that day, Marathon Petroleum is projected to report earnings of $2.39 per share, which would represent a year-over-year decline of 64.06%. Simultaneously, our latest consensus estimate expects the revenue to be $33.73 billion, showing a 15.88% drop compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Marathon Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.23% downward. As of now, Marathon Petroleum holds a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Petroleum is currently trading at a Forward P/E ratio of 10.59. This denotes a premium relative to the industry's average Forward P/E of 10.21.
Investors should also note that MPC has a PEG ratio of 1.76 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Refining and Marketing industry had an average PEG ratio of 1.55.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Marathon Petroleum (MPC) Dips More Than Broader Market: What You Should Know
The most recent trading session ended with Marathon Petroleum (MPC - Free Report) standing at $152, reflecting a -1.38% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.56%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 0.59%.
The refiner's stock has climbed by 0.23% in the past month, exceeding the Oils-Energy sector's loss of 2.83% and lagging the S&P 500's gain of 1.2%.
The upcoming earnings release of Marathon Petroleum will be of great interest to investors. The company's earnings report is expected on January 30, 2024. On that day, Marathon Petroleum is projected to report earnings of $2.39 per share, which would represent a year-over-year decline of 64.06%. Simultaneously, our latest consensus estimate expects the revenue to be $33.73 billion, showing a 15.88% drop compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Marathon Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.23% downward. As of now, Marathon Petroleum holds a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Petroleum is currently trading at a Forward P/E ratio of 10.59. This denotes a premium relative to the industry's average Forward P/E of 10.21.
Investors should also note that MPC has a PEG ratio of 1.76 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Refining and Marketing industry had an average PEG ratio of 1.55.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.