Why the Market Dipped But Marathon Oil (MRO) Gained Today

Marathon Oil (MRO) closed the most recent trading day at $29.68, moving +1.37% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.95%. Elsewhere, the Dow saw a downswing of 1.09%, while the tech-heavy Nasdaq depreciated by 0.84%.

The energy company's stock has climbed by 16.51% in the past month, exceeding the Oils-Energy sector's gain of 8.7% and the S&P 500's gain of 1.78%.

The investment community will be closely monitoring the performance of Marathon Oil in its forthcoming earnings report. The company is scheduled to release its earnings on May 1, 2024. The company is forecasted to report an EPS of $0.56, showcasing a 16.42% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.59 billion, down 5.48% from the year-ago period.

MRO's full-year Zacks Consensus Estimates are calling for earnings of $2.63 per share and revenue of $6.7 billion. These results would represent year-over-year changes of +0.77% and -0.01%, respectively.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Marathon Oil. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 past month, the Zacks Consensus EPS estimate has shifted 5.62% upward. Marathon Oil is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Marathon Oil is holding a Forward P/E ratio of 11.15. This signifies a discount in comparison to the average Forward P/E of 15.59 for its industry.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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