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Marathon Oil (MRO) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Marathon Oil (MRO - Free Report) closed at $23.29, marking a -1.9% move from the previous day. This change lagged the S&P 500's 0.38% loss on the day. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 10.47%.
Coming into today, shares of the energy company had gained 2.02% in the past month. In that same time, the Oils-Energy sector gained 7.91%, while the S&P 500 gained 2.61%.
Marathon Oil will be looking to display strength as it nears its next earnings release, which is expected to be May 3, 2023. The company is expected to report EPS of $0.60, down 41.18% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.64 billion, down 6.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.94 per share and revenue of $6.98 billion, which would represent changes of -34.38% and -13.11%, respectively, from the prior year.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 15.89% lower. Marathon Oil is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Marathon Oil is holding a Forward P/E ratio of 8.08. This valuation marks a discount compared to its industry's average Forward P/E of 10.56.
Also, we should mention that MRO has a PEG ratio of 0.41. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.52 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.
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Marathon Oil (MRO) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Marathon Oil (MRO - Free Report) closed at $23.29, marking a -1.9% move from the previous day. This change lagged the S&P 500's 0.38% loss on the day. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 10.47%.
Coming into today, shares of the energy company had gained 2.02% in the past month. In that same time, the Oils-Energy sector gained 7.91%, while the S&P 500 gained 2.61%.
Marathon Oil will be looking to display strength as it nears its next earnings release, which is expected to be May 3, 2023. The company is expected to report EPS of $0.60, down 41.18% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.64 billion, down 6.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.94 per share and revenue of $6.98 billion, which would represent changes of -34.38% and -13.11%, respectively, from the prior year.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 15.89% lower. Marathon Oil is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Marathon Oil is holding a Forward P/E ratio of 8.08. This valuation marks a discount compared to its industry's average Forward P/E of 10.56.
Also, we should mention that MRO has a PEG ratio of 0.41. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.52 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.