Marathon Petroleum (MPC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Marathon Petroleum (MPC) closed at $25.76, marking a -0.69% move from the previous day. This change lagged the S&P 500's daily gain of 1.39%. Elsewhere, the Dow gained 1.11%, while the tech-heavy Nasdaq added 1.65%.
Prior to today's trading, shares of the refiner had gained 12.1% over the past month. This has lagged the Oils-Energy sector's gain of 35.29% and the S&P 500's gain of 25.31% in that time.
MPC will be looking to display strength as it nears its next earnings release, which is expected to be May 5, 2020. The company is expected to report EPS of -$0.40, down 344.44% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.05 per share and revenue of $82.59 billion, which would represent changes of -121.26% and -33.87%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MPC. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 139.77% lower. MPC is holding a Zacks Rank of #3 (Hold) right now.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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