Marathon Oil (MRO) Gains As Market Dips: What You Should Know
The most recent trading session ended with Marathon Oil (MRO) standing at $23.54, reflecting a +1.51% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.06%. On the other hand, the Dow registered a gain of 0.35%, and the technology-centric Nasdaq decreased by 0.76%.
Heading into today, shares of the energy company had lost 4.01% over the past month, lagging the Oils-Energy sector's loss of 1.02% and the S&P 500's gain of 3.36% in that time.
The investment community will be closely monitoring the performance of Marathon Oil in its forthcoming earnings report. The company is scheduled to release 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.
Investors should also take note of any recent adjustments to analyst estimates for Marathon Oil. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 25.62% fall in the Zacks Consensus EPS estimate. Marathon Oil is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at its valuation, Marathon Oil is holding a Forward P/E ratio of 8.89. This expresses a discount compared to the average Forward P/E of 12.85 of its industry.
We can additionally observe that MRO currently boasts a PEG ratio of 0.45. 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 - Integrated - United States industry had an average PEG ratio of 0.52 as trading concluded yesterday.
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 234, placing it within the bottom 8% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Marathon Oil Corporation (MRO) : Free Stock Analysis Report
