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Marathon Petroleum (MPC) Gains As Market Dips: What You Should Know
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Marathon Petroleum (MPC - Free Report) closed at $124.25 in the latest trading session, marking a +1.75% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.68%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq lost 3.19%.
Coming into today, shares of the refiner had gained 9.03% in the past month. In that same time, the Oils-Energy sector gained 1.28%, while the S&P 500 gained 3.58%.
Marathon Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. The company is expected to report EPS of $4.56, down 57.02% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $31.73 billion, down 41.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.29 per share and revenue of $131.46 billion, which would represent changes of -30.08% and -26.95%, respectively, from the prior 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 3.78% lower within the past month. Marathon Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Marathon Petroleum is holding a Forward P/E ratio of 6.68. Its industry sports an average Forward P/E of 7.65, so we one might conclude that Marathon Petroleum is trading at a discount comparatively.
Also, we should mention that MPC has a PEG ratio of 1.11. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MPC's industry had an average PEG ratio of 0.89 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 181, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow MPC in the coming trading sessions, be sure to utilize Zacks.com.
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Marathon Petroleum (MPC) Gains As Market Dips: What You Should Know
Marathon Petroleum (MPC - Free Report) closed at $124.25 in the latest trading session, marking a +1.75% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.68%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq lost 3.19%.
Coming into today, shares of the refiner had gained 9.03% in the past month. In that same time, the Oils-Energy sector gained 1.28%, while the S&P 500 gained 3.58%.
Marathon Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. The company is expected to report EPS of $4.56, down 57.02% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $31.73 billion, down 41.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.29 per share and revenue of $131.46 billion, which would represent changes of -30.08% and -26.95%, respectively, from the prior 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 3.78% lower within the past month. Marathon Petroleum is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Marathon Petroleum is holding a Forward P/E ratio of 6.68. Its industry sports an average Forward P/E of 7.65, so we one might conclude that Marathon Petroleum is trading at a discount comparatively.
Also, we should mention that MPC has a PEG ratio of 1.11. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MPC's industry had an average PEG ratio of 0.89 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 181, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow MPC in the coming trading sessions, be sure to utilize Zacks.com.