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Marathon Petroleum (MPC) Outperforms Broader Market: What You Need to Know
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Marathon Petroleum (MPC - Free Report) closed at $150.75 in the latest trading session, marking a +1.72% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 1.06%. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 1.2%.
The refiner's stock has dropped by 3.65% in the past month, falling short of the Oils-Energy sector's loss of 0.77% and the S&P 500's loss of 3%.
Analysts and investors alike will be keeping a close eye on the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2023. In that report, analysts expect Marathon Petroleum to post earnings of $7 per share. This would mark a year-over-year decline of 10.37%. Meanwhile, the latest consensus estimate predicts the revenue to be $34.27 billion, indicating a 27.44% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $22.98 per share and a revenue of $140.65 billion, signifying shifts of -12.16% and -21.84%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 5.38% higher within the past month. Right now, Marathon Petroleum possesses a Zacks Rank of #2 (Buy).
In the context of valuation, Marathon Petroleum is at present trading with a Forward P/E ratio of 6.45. This indicates a discount in contrast to its industry's Forward P/E of 6.82.
We can also see that MPC currently has a PEG ratio of 1.07. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 0.94 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 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Marathon Petroleum (MPC) Outperforms Broader Market: What You Need to Know
Marathon Petroleum (MPC - Free Report) closed at $150.75 in the latest trading session, marking a +1.72% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 1.06%. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 1.2%.
The refiner's stock has dropped by 3.65% in the past month, falling short of the Oils-Energy sector's loss of 0.77% and the S&P 500's loss of 3%.
Analysts and investors alike will be keeping a close eye on the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to go public on October 31, 2023. In that report, analysts expect Marathon Petroleum to post earnings of $7 per share. This would mark a year-over-year decline of 10.37%. Meanwhile, the latest consensus estimate predicts the revenue to be $34.27 billion, indicating a 27.44% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $22.98 per share and a revenue of $140.65 billion, signifying shifts of -12.16% and -21.84%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 5.38% higher within the past month. Right now, Marathon Petroleum possesses a Zacks Rank of #2 (Buy).
In the context of valuation, Marathon Petroleum is at present trading with a Forward P/E ratio of 6.45. This indicates a discount in contrast to its industry's Forward P/E of 6.82.
We can also see that MPC currently has a PEG ratio of 1.07. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 0.94 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 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.