Yahoo Finance Marathon Petroleum (MPC) Advances While Market Declines: Some Information for Investors
In the latest trading session, Marathon Petroleum (MPC) closed at $173.66, marking a +0.7% move from the previous day. This move outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq lost 0.79%.
Heading into today, shares of the refiner had lost 2.03% over the past month, outpacing the Oils-Energy sector's loss of 5.24% and lagging the S&P 500's gain of 3.59% in that time.
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 August 6, 2024. The company is predicted to post an EPS of $6.05, indicating a 13.72% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $31.85 billion, showing a 13.52% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $18.63 per share and a revenue of $129.28 billion, representing changes of -21.16% and -13.99%, respectively, from the prior 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 past month, the Zacks Consensus EPS estimate has shifted 6.18% downward. Marathon Petroleum is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Marathon Petroleum is currently trading at a Forward P/E ratio of 9.26. This valuation marks a discount compared to its industry's average Forward P/E of 11.52.
Also, we should mention that MPC has a PEG ratio of 1.54. 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. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 1.68.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 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.
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 Corporation (MPC) : Free Stock Analysis Report
