The most recent trading session ended with Marathon Petroleum (MPC) standing at $165.82, reflecting a +1.79% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.93%. Meanwhile, the Dow experienced a drop of 0.41%, and the technology-dominated Nasdaq saw a decrease of 1.53%.

Shares of the refiner have depreciated by 8.02% over the course of the past month, underperforming the Oils-Energy sector's loss of 2.51% and the S&P 500's gain of 2.17%.

Analysts and investors alike will be keeping a close eye on the performance of Marathon Petroleum in its upcoming earnings disclosure. The company's earnings report is set to go public on November 5, 2024. It is anticipated that the company will report an EPS of $2.01, marking a 75.31% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $31.58 billion, reflecting a 24.07% fall from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.01 per share and a revenue of $134.66 billion, indicating changes of -53.41% and -10.41%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Marathon Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 16.73% lower. Currently, Marathon Petroleum is carrying a Zacks Rank of #3 (Hold).

From a valuation perspective, Marathon Petroleum is currently exchanging hands at a Forward P/E ratio of 14.8. This represents a discount compared to its industry's average Forward P/E of 15.35.

One should further note that MPC currently holds a PEG ratio of 2.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 3.29 at yesterday's closing price.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 236, putting it in the bottom 7% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research