Marathon Petroleum Corporation ( MPC ) saw a big move in the last trading session, as the company's shares fell by over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for MPC, as the stock is down nearly 10% since Jun 19.
This slump shouldn't be too much of a surprise to investors, as the company, engaged in refining, transporting, and marketing of petroleum products, has seen 4 negative revisions in the past few weeks compared with just 1 upward revision, and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
MPC currently holds a Zacks Rank #3 (Hold) while its Earnings ESP
Investors interested in the Oil Refining & Marketing industry may consider better-ranked stocks like Global Partners LP
), PBF Energy Inc.
) and Valero Energy Corporation
), each of which holds a Zacks Rank #2 (Buy).
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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 reportMARATHON PETROL (MPC): Free Stock Analysis ReportGLOBAL PARTNERS (GLP): Free Stock Analysis ReportPBF ENERGY INC (PBF): Free Stock Analysis ReportVALERO ENERGY (VLO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research