Marathon Oil (MRO) Ascends While Market Falls: Some Facts to Note
In the latest market close, Marathon Oil (MRO) reached $22.65, with a +0.89% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.1%. On the other hand, the Dow registered a gain of 0.33%, and the technology-centric Nasdaq decreased by 0.3%.
Heading into today, shares of the energy company had lost 4.06% over the past month, lagging the Oils-Energy sector's gain of 1.15% and the S&P 500's gain of 5.78% in that time.
The investment community will be paying close attention to the earnings performance of Marathon Oil in its upcoming release. The company is slated to reveal its earnings on February 21, 2024. The company's upcoming EPS is projected at $0.62, signifying a 29.55% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.66 billion, down 4.29% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Marathon Oil. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 19.57% lower. Marathon Oil is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Marathon Oil's current valuation metrics, including its Forward P/E ratio of 8.6. For comparison, its industry has an average Forward P/E of 12, which means Marathon Oil is trading at a discount to the group.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 241, placing it within the bottom 5% 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.
To follow MRO in the coming trading sessions, be sure to utilize Zacks.com.
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Marathon Oil Corporation (MRO) : Free Stock Analysis Report
