Marathon Petroleum (MPC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Marathon Petroleum (MPC) closed at $133.94, marking a -0.1% move from the previous day. This change lagged the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.33%.
Heading into today, shares of the refiner had gained 3.79% over the past month, outpacing the Oils-Energy sector's loss of 2.71% and the S&P 500's gain of 1.72% in that time.
Investors will be hoping for strength from Marathon Petroleum as it approaches its next earnings release, which is expected to be May 2, 2023. On that day, Marathon Petroleum is projected to report earnings of $5.26 per share, which would represent year-over-year growth of 253.02%. Our most recent consensus estimate is calling for quarterly revenue of $31.03 billion, down 19.15% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $20.31 per share and revenue of $130.11 billion, which would represent changes of -22.36% and -27.7%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Marathon Petroleum. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 14.13% higher. Marathon Petroleum is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Marathon Petroleum is holding a Forward P/E ratio of 6.6. This represents a no noticeable deviation compared to its industry's average Forward P/E of 6.6.
Meanwhile, MPC's PEG ratio is currently 0.23. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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