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Marathon Petroleum (MPC) Stock Sinks As Market Gains: What You Should Know
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Marathon Petroleum (MPC - Free Report) closed at $111.64 in the latest trading session, marking a -0.76% move from the prior day. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.61%.
Heading into today, shares of the refiner had gained 5.39% over the past month, outpacing the Oils-Energy sector's gain of 2.92% and lagging the S&P 500's gain of 6.1% in that time.
Marathon Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. On that day, Marathon Petroleum is projected to report earnings of $4.77 per share, which would represent a year-over-year decline of 55.04%. Our most recent consensus estimate is calling for quarterly revenue of $31.93 billion, down 41.14% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $19.01 per share and revenue of $136.17 billion. These totals would mark changes of -27.33% and -24.33%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Marathon Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 5.48% lower. Marathon Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marathon Petroleum has a Forward P/E ratio of 5.92 right now. For comparison, its industry has an average Forward P/E of 6.8, which means Marathon Petroleum is trading at a discount to the group.
Investors should also note that MPC has a PEG ratio of 0.99 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Marathon Petroleum (MPC) Stock Sinks As Market Gains: What You Should Know
Marathon Petroleum (MPC - Free Report) closed at $111.64 in the latest trading session, marking a -0.76% move from the prior day. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.61%.
Heading into today, shares of the refiner had gained 5.39% over the past month, outpacing the Oils-Energy sector's gain of 2.92% and lagging the S&P 500's gain of 6.1% in that time.
Marathon Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. On that day, Marathon Petroleum is projected to report earnings of $4.77 per share, which would represent a year-over-year decline of 55.04%. Our most recent consensus estimate is calling for quarterly revenue of $31.93 billion, down 41.14% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $19.01 per share and revenue of $136.17 billion. These totals would mark changes of -27.33% and -24.33%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Marathon Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 5.48% lower. Marathon Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marathon Petroleum has a Forward P/E ratio of 5.92 right now. For comparison, its industry has an average Forward P/E of 6.8, which means Marathon Petroleum is trading at a discount to the group.
Investors should also note that MPC has a PEG ratio of 0.99 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.