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Marathon Petroleum (MPC) Dips More Than Broader Markets: What You Should Know
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Marathon Petroleum (MPC - Free Report) closed the most recent trading day at $116.21, moving -1.13% from the previous trading session. This change lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 9.78%.
Heading into today, shares of the refiner had gained 7.81% over the past month, outpacing the Oils-Energy sector's gain of 5.94% and the S&P 500's gain of 4.16% in that time.
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. In that report, analysts expect Marathon Petroleum to post earnings of $4.77 per share. This would mark a year-over-year decline of 55.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $31.93 billion, down 41.14% from the year-ago period.
MPC's full-year Zacks Consensus Estimates are calling for earnings of $18.78 per share and revenue of $134.26 billion. These results would represent year-over-year changes of -28.21% and -25.39%, respectively.
Any recent changes to analyst estimates for Marathon Petroleum should also be noted by investors. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 2.33% lower within the past month. Marathon Petroleum is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Petroleum is currently trading at a Forward P/E ratio of 6.26. Its industry sports an average Forward P/E of 6.69, 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 1.04 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 - Refining and Marketing industry currently had an average PEG ratio of 0.88 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% 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.
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) Dips More Than Broader Markets: What You Should Know
Marathon Petroleum (MPC - Free Report) closed the most recent trading day at $116.21, moving -1.13% from the previous trading session. This change lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 9.78%.
Heading into today, shares of the refiner had gained 7.81% over the past month, outpacing the Oils-Energy sector's gain of 5.94% and the S&P 500's gain of 4.16% in that time.
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. In that report, analysts expect Marathon Petroleum to post earnings of $4.77 per share. This would mark a year-over-year decline of 55.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $31.93 billion, down 41.14% from the year-ago period.
MPC's full-year Zacks Consensus Estimates are calling for earnings of $18.78 per share and revenue of $134.26 billion. These results would represent year-over-year changes of -28.21% and -25.39%, respectively.
Any recent changes to analyst estimates for Marathon Petroleum should also be noted by investors. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 2.33% lower within the past month. Marathon Petroleum is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Petroleum is currently trading at a Forward P/E ratio of 6.26. Its industry sports an average Forward P/E of 6.69, 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 1.04 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 - Refining and Marketing industry currently had an average PEG ratio of 0.88 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.