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Why the Market Dipped But Marathon Petroleum (MPC) Gained Today
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In the latest trading session, Marathon Petroleum (MPC - Free Report) closed at $188.98, marking a +0.05% move from the previous day. This change outpaced the S&P 500's 0.29% loss on the day. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the refiner had gained 11.19% over the past month, outpacing the Oils-Energy sector's gain of 6.58% and the S&P 500's gain of 4.42% in that time.
The upcoming earnings release of Marathon Petroleum will be of great interest to investors. The company's upcoming EPS is projected at $2, signifying a 67.16% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $30.9 billion, down 11.9% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $14.36 per share and a revenue of $125.01 billion, indicating changes of -39.23% and -16.83%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Marathon Petroleum. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. As of now, Marathon Petroleum holds a Zacks Rank of #3 (Hold).
Digging into valuation, Marathon Petroleum currently has a Forward P/E ratio of 13.15. This represents a premium compared to its industry's average Forward P/E of 11.81.
It's also important to note that MPC currently trades at a PEG ratio of 2.19. 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 1.85 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 32% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why the Market Dipped But Marathon Petroleum (MPC) Gained Today
In the latest trading session, Marathon Petroleum (MPC - Free Report) closed at $188.98, marking a +0.05% move from the previous day. This change outpaced the S&P 500's 0.29% loss on the day. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the refiner had gained 11.19% over the past month, outpacing the Oils-Energy sector's gain of 6.58% and the S&P 500's gain of 4.42% in that time.
The upcoming earnings release of Marathon Petroleum will be of great interest to investors. The company's upcoming EPS is projected at $2, signifying a 67.16% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $30.9 billion, down 11.9% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $14.36 per share and a revenue of $125.01 billion, indicating changes of -39.23% and -16.83%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Marathon Petroleum. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. As of now, Marathon Petroleum holds a Zacks Rank of #3 (Hold).
Digging into valuation, Marathon Petroleum currently has a Forward P/E ratio of 13.15. This represents a premium compared to its industry's average Forward P/E of 11.81.
It's also important to note that MPC currently trades at a PEG ratio of 2.19. 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 1.85 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 32% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.