Marathon Petroleum (MPC) Stock Sinks As Market Gains: What You Should Know
Marathon Petroleum (MPC) ended the recent trading session at $152.66, demonstrating a -0.63% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.03% for the day. Meanwhile, the Dow experienced a rise of 0.87%, and the technology-dominated Nasdaq saw an increase of 1.26%.
Heading into today, shares of the refiner had gained 2.96% over the past month, outpacing the Oils-Energy sector's loss of 0.19% and lagging the S&P 500's gain of 3.01% in that time.
Market participants will be closely following the financial results of Marathon Petroleum in its upcoming release. The company plans to announce its earnings on January 30, 2024. The company is forecasted to report an EPS of $2.29, showcasing a 65.56% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $33.82 billion, down 15.65% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $21.76 per share and a revenue of $146.98 billion, signifying shifts of -16.82% and -18.32%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Marathon Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.14% downward. Marathon Petroleum is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Marathon Petroleum is presently being traded at a Forward P/E ratio of 7.06. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 7.06.
We can additionally observe that MPC currently boasts a PEG ratio of 1.18. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 1.04 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 84, placing it within the top 34% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report
