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Marathon Petroleum (MPC) closed at $83.63 in the latest trading session, marking a +0.43% move from the prior day. This change outpaced the S&P 500's 1.15% loss on the day. At the same time, the Dow lost 0.52%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the refiner had lost 23.14% over the past month, lagging the Oils-Energy sector's loss of 19.33% and the S&P 500's loss of 5.08% in that time.
Marathon Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2022. On that day, Marathon Petroleum is projected to report earnings of $5.48 per share, which would represent year-over-year growth of 717.91%. Meanwhile, our latest consensus estimate is calling for revenue of $31.39 billion, up 5.24% from the prior-year quarter.
MPC's full-year Zacks Consensus Estimates are calling for earnings of $14.57 per share and revenue of $131.74 billion. These results would represent year-over-year changes of +494.69% and +8.94%, respectively.
Investors might also notice recent changes to analyst estimates for Marathon Petroleum. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 6.2% higher. Marathon Petroleum currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Marathon Petroleum is currently trading at a Forward P/E ratio of 5.72. This represents a discount compared to its industry's average Forward P/E of 6.12.
Also, we should mention that MPC has a PEG ratio of 0.29. 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 0.53 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 3, which puts it in the top 2% 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.
To follow MPC in the coming trading sessions, be sure to utilize Zacks.com.
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