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Marathon Petroleum (MPC) Stock Dips While Market Gains: Key Facts
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Marathon Petroleum (MPC - Free Report) closed the latest trading day at $177.02, indicating a -0.71% change from the previous session's end. This change lagged the S&P 500's 1.08% gain on the day. Meanwhile, the Dow gained 0.75%, and the Nasdaq, a tech-heavy index, added 2.64%.
The refiner's shares have seen an increase of 2.38% over the last month, surpassing the Oils-Energy sector's loss of 10.32% and the S&P 500's loss of 0.44%.
Market participants will be closely following the financial results of Marathon Petroleum in its upcoming release. The company plans to announce its earnings on August 6, 2024. The company is forecasted to report an EPS of $3.83, showcasing a 28.01% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $32.04 billion, down 13% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.25 per share and revenue of $134.66 billion, which would represent changes of -43.93% and -10.41%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Marathon Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 22.47% decrease. Marathon Petroleum currently has a Zacks Rank of #4 (Sell).
Investors should also note Marathon Petroleum's current valuation metrics, including its Forward P/E ratio of 13.46. This represents a discount compared to its industry's average Forward P/E of 16.55.
We can additionally observe that MPC currently boasts a PEG ratio of 2.24. 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 industry had an average PEG ratio of 2.61 as trading concluded yesterday.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 227, putting it in the bottom 10% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Marathon Petroleum (MPC) Stock Dips While Market Gains: Key Facts
Marathon Petroleum (MPC - Free Report) closed the latest trading day at $177.02, indicating a -0.71% change from the previous session's end. This change lagged the S&P 500's 1.08% gain on the day. Meanwhile, the Dow gained 0.75%, and the Nasdaq, a tech-heavy index, added 2.64%.
The refiner's shares have seen an increase of 2.38% over the last month, surpassing the Oils-Energy sector's loss of 10.32% and the S&P 500's loss of 0.44%.
Market participants will be closely following the financial results of Marathon Petroleum in its upcoming release. The company plans to announce its earnings on August 6, 2024. The company is forecasted to report an EPS of $3.83, showcasing a 28.01% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $32.04 billion, down 13% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.25 per share and revenue of $134.66 billion, which would represent changes of -43.93% and -10.41%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Marathon Petroleum. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 22.47% decrease. Marathon Petroleum currently has a Zacks Rank of #4 (Sell).
Investors should also note Marathon Petroleum's current valuation metrics, including its Forward P/E ratio of 13.46. This represents a discount compared to its industry's average Forward P/E of 16.55.
We can additionally observe that MPC currently boasts a PEG ratio of 2.24. 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 industry had an average PEG ratio of 2.61 as trading concluded yesterday.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 227, putting it in the bottom 10% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.