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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 at $147.27 in the latest trading session, marking a -1.83% move from the prior day. This change lagged the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Heading into today, shares of the refiner had gained 2.78% over the past month, outpacing the Oils-Energy sector's loss of 1.79% and the S&P 500's loss of 4.93% 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 October 31, 2023. On that day, Marathon Petroleum is projected to report earnings of $7.20 per share, which would represent a year-over-year decline of 7.81%. Meanwhile, our latest consensus estimate is calling for revenue of $34.48 billion, down 27.01% from the prior-year quarter.
MPC's full-year Zacks Consensus Estimates are calling for earnings of $23.24 per share and revenue of $140.85 billion. These results would represent year-over-year changes of -11.16% and -21.73%, respectively.
Investors should also note any recent changes to analyst estimates for Marathon Petroleum. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Within the past 30 days, our consensus EPS projection has moved 8.15% higher. Marathon Petroleum is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Marathon Petroleum is holding a Forward P/E ratio of 6.45. 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.
Also, we should mention that MPC has a PEG ratio of 1.08. 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 - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.98 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 107, which puts it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Marathon Petroleum (MPC) Dips More Than Broader Markets: What You Should Know
Marathon Petroleum (MPC - Free Report) closed at $147.27 in the latest trading session, marking a -1.83% move from the prior day. This change lagged the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Heading into today, shares of the refiner had gained 2.78% over the past month, outpacing the Oils-Energy sector's loss of 1.79% and the S&P 500's loss of 4.93% 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 October 31, 2023. On that day, Marathon Petroleum is projected to report earnings of $7.20 per share, which would represent a year-over-year decline of 7.81%. Meanwhile, our latest consensus estimate is calling for revenue of $34.48 billion, down 27.01% from the prior-year quarter.
MPC's full-year Zacks Consensus Estimates are calling for earnings of $23.24 per share and revenue of $140.85 billion. These results would represent year-over-year changes of -11.16% and -21.73%, respectively.
Investors should also note any recent changes to analyst estimates for Marathon Petroleum. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Within the past 30 days, our consensus EPS projection has moved 8.15% higher. Marathon Petroleum is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Marathon Petroleum is holding a Forward P/E ratio of 6.45. 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.
Also, we should mention that MPC has a PEG ratio of 1.08. 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 - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.98 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 107, which puts it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.