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Marathon Oil (MRO) Stock Moves -1%: What You Should Know
In the latest trading session, Marathon Oil (MRO - Free Report) closed at $26.60, marking a -1% move from the previous day. This change was narrower than the S&P 500's 1.11% loss on the day. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 2.13%.
Prior to today's trading, shares of the energy company had lost 0.52% over the past month. This has lagged the Oils-Energy sector's gain of 2.43% and the S&P 500's gain of 7% in that time.
Wall Street will be looking for positivity from Marathon Oil as it approaches its next earnings report date. This is expected to be February 15, 2023. In that report, analysts expect Marathon Oil to post earnings of $0.87 per share. This would mark year-over-year growth of 12.99%. Our most recent consensus estimate is calling for quarterly revenue of $1.75 billion, down 2.54% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Marathon Oil. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 7.32% lower within the past month. Marathon Oil currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Oil is currently trading at a Forward P/E ratio of 7.24. Its industry sports an average Forward P/E of 11.95, so we one might conclude that Marathon Oil is trading at a discount comparatively.
Investors should also note that MRO has a PEG ratio of 0.32 right now. 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 - Integrated - United States was holding an average PEG ratio of 0.45 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.