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Marathon Petroleum (MPC) Ascends But Remains Behind Market: Some Facts to Note
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The most recent trading session ended with Marathon Petroleum (MPC - Free Report) standing at $197.75, reflecting a +0.6% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.89% for the day. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 1.25%.
The refiner's stock has climbed by 19.65% in the past month, exceeding the Oils-Energy sector's gain of 5.25% and the S&P 500's gain of 3.56%.
The upcoming earnings release of Marathon Petroleum will be of great interest to investors. The company's earnings report is expected on April 30, 2024. In that report, analysts expect Marathon Petroleum to post earnings of $2.04 per share. This would mark a year-over-year decline of 66.5%. At the same time, our most recent consensus estimate is projecting a revenue of $31.65 billion, reflecting a 9.78% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.68 per share and revenue of $133.52 billion. These totals would mark changes of -37.88% and -11.17%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Marathon Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.09% higher. At present, Marathon Petroleum boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Marathon Petroleum is presently trading at a Forward P/E ratio of 13.39. This signifies a premium in comparison to the average Forward P/E of 12.51 for its industry.
We can additionally observe that MPC currently boasts a PEG ratio of 2.23. 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. MPC's industry had an average PEG ratio of 1.93 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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) Ascends But Remains Behind Market: Some Facts to Note
The most recent trading session ended with Marathon Petroleum (MPC - Free Report) standing at $197.75, reflecting a +0.6% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.89% for the day. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 1.25%.
The refiner's stock has climbed by 19.65% in the past month, exceeding the Oils-Energy sector's gain of 5.25% and the S&P 500's gain of 3.56%.
The upcoming earnings release of Marathon Petroleum will be of great interest to investors. The company's earnings report is expected on April 30, 2024. In that report, analysts expect Marathon Petroleum to post earnings of $2.04 per share. This would mark a year-over-year decline of 66.5%. At the same time, our most recent consensus estimate is projecting a revenue of $31.65 billion, reflecting a 9.78% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.68 per share and revenue of $133.52 billion. These totals would mark changes of -37.88% and -11.17%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Marathon Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.09% higher. At present, Marathon Petroleum boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Marathon Petroleum is presently trading at a Forward P/E ratio of 13.39. This signifies a premium in comparison to the average Forward P/E of 12.51 for its industry.
We can additionally observe that MPC currently boasts a PEG ratio of 2.23. 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. MPC's industry had an average PEG ratio of 1.93 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.