Yahoo Finance Marathon Petroleum (MPC) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with Marathon Petroleum (MPC) standing at $164.67, reflecting a +0.49% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.29%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.31%.
Shares of the refiner witnessed a loss of 4.51% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 2.45% and the S&P 500's gain of 1.57%.
The investment community will be closely monitoring the performance of Marathon Petroleum in its forthcoming earnings report. The company is scheduled to release its earnings on November 5, 2024. It is anticipated that the company will report an EPS of $3.02, marking a 62.9% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $31.58 billion, showing a 24.07% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $13.50 per share and a revenue of $134.66 billion, demonstrating changes of -42.87% and -10.41%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Marathon Petroleum. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.57% downward. As of now, Marathon Petroleum holds a Zacks Rank of #3 (Hold).
With respect to valuation, Marathon Petroleum is currently being traded at a Forward P/E ratio of 12.14. This valuation marks a discount compared to its industry's average Forward P/E of 14.03.
One should further note that MPC currently holds a PEG ratio of 2.02. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Refining and Marketing industry had an average PEG ratio of 2.86.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 208, this industry ranks in the bottom 18% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
To follow MPC in the coming trading sessions, be sure to utilize Zacks.com.
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Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report
