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Marathon Petroleum (MPC) Rises As Market Takes a Dip: Key Facts
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Marathon Petroleum (MPC - Free Report) closed the latest trading day at $148.36, indicating a +1.01% change from the previous session's end. This change outpaced the S&P 500's 0.28% loss on the day. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Coming into today, shares of the refiner had lost 1.55% in the past month. In that same time, the Oils-Energy sector gained 0.78%, while the S&P 500 gained 5.24%.
Investors will be eagerly watching for the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 30, 2024. On that day, Marathon Petroleum is projected to report earnings of $2.29 per share, which would represent a year-over-year decline of 65.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.82 billion, down 15.65% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $21.76 per share and a revenue of $146.98 billion, demonstrating changes of -16.82% and -18.32%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates 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.
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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.14% decrease. Marathon Petroleum is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Petroleum is presently being traded at a Forward P/E ratio of 6.75. Its industry sports an average Forward P/E of 6.8, so one might conclude that Marathon Petroleum is trading at a discount comparatively.
We can also see that MPC currently has a PEG ratio of 1.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 1.24 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Marathon Petroleum (MPC) Rises As Market Takes a Dip: Key Facts
Marathon Petroleum (MPC - Free Report) closed the latest trading day at $148.36, indicating a +1.01% change from the previous session's end. This change outpaced the S&P 500's 0.28% loss on the day. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Coming into today, shares of the refiner had lost 1.55% in the past month. In that same time, the Oils-Energy sector gained 0.78%, while the S&P 500 gained 5.24%.
Investors will be eagerly watching for the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 30, 2024. On that day, Marathon Petroleum is projected to report earnings of $2.29 per share, which would represent a year-over-year decline of 65.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.82 billion, down 15.65% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $21.76 per share and a revenue of $146.98 billion, demonstrating changes of -16.82% and -18.32%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates 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.
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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.14% decrease. Marathon Petroleum is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Petroleum is presently being traded at a Forward P/E ratio of 6.75. Its industry sports an average Forward P/E of 6.8, so one might conclude that Marathon Petroleum is trading at a discount comparatively.
We can also see that MPC currently has a PEG ratio of 1.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 1.24 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.