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Marathon Petroleum (MPC) Gains But Lags Market: What You Should Know
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In the latest trading session, Marathon Petroleum (MPC - Free Report) closed at $113.98, marking a +0.83% move from the previous day. This move lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Coming into today, shares of the refiner had gained 3.89% in the past month. In that same time, the Oils-Energy sector gained 2.12%, while the S&P 500 gained 3.08%.
Wall Street will be looking for positivity from Marathon Petroleum as it approaches its next earnings report date. This is expected to be August 1, 2023. The company is expected to report EPS of $4.66, down 56.08% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $31.93 billion, down 41.14% from the prior-year quarter.
MPC's full-year Zacks Consensus Estimates are calling for earnings of $19.01 per share and revenue of $136.17 billion. These results would represent year-over-year changes of -27.33% and -24.33%, respectively.
Investors might also notice recent changes to analyst estimates for Marathon Petroleum. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.18% lower. Marathon Petroleum currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Marathon Petroleum is holding a Forward P/E ratio of 5.95. Its industry sports an average Forward P/E of 6.4, so we one might conclude that Marathon Petroleum is trading at a discount comparatively.
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. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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) Gains But Lags Market: What You Should Know
In the latest trading session, Marathon Petroleum (MPC - Free Report) closed at $113.98, marking a +0.83% move from the previous day. This move lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Coming into today, shares of the refiner had gained 3.89% in the past month. In that same time, the Oils-Energy sector gained 2.12%, while the S&P 500 gained 3.08%.
Wall Street will be looking for positivity from Marathon Petroleum as it approaches its next earnings report date. This is expected to be August 1, 2023. The company is expected to report EPS of $4.66, down 56.08% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $31.93 billion, down 41.14% from the prior-year quarter.
MPC's full-year Zacks Consensus Estimates are calling for earnings of $19.01 per share and revenue of $136.17 billion. These results would represent year-over-year changes of -27.33% and -24.33%, respectively.
Investors might also notice recent changes to analyst estimates for Marathon Petroleum. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.18% lower. Marathon Petroleum currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Marathon Petroleum is holding a Forward P/E ratio of 5.95. Its industry sports an average Forward P/E of 6.4, so we one might conclude that Marathon Petroleum is trading at a discount comparatively.
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. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.