The latest trading session saw Marathon Petroleum (MPC) ending at $162.45, denoting a -1.08% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.25% for the day. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.56%.

Shares of the refiner witnessed a loss of 5.18% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.05% and the S&P 500's gain of 1.65%.

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. The company is forecasted to report an EPS of $2.28, showcasing a 71.99% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $31.58 billion, indicating a 24.07% decline compared to the corresponding quarter of the prior 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.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marathon Petroleum. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

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, 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 moved 16.73% lower. At present, Marathon Petroleum boasts a Zacks Rank of #3 (Hold).

Digging into valuation, Marathon Petroleum currently has a Forward P/E ratio of 14.92. This indicates a discount in contrast to its industry's Forward P/E of 15.35.

We can also see that MPC currently has a PEG ratio of 2.49. 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. MPC's industry had an average PEG ratio of 3.14 as of yesterday's close.

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 205, placing it within the bottom 19% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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