Marathon Oil (MRO) Ascends While Market Falls: Some Facts to Note
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The latest trading session saw Marathon Oil (MRO) ending at $26.08, denoting a +0.77% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.56%.The energy company's stock has dropped by 6.37% in the past month, exceeding the Oils-Energy sector's loss of 10.39% and lagging the S&P 500's gain of 1.83%.Investors will be eagerly watching for the performance of Marathon Oil in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 6, 2024. In that report, analysts expect Marathon Oil to post earnings of $0.64 per share. This would mark a year-over-year decline of 16.88%. In the meantime, our current consensus estimate forecasts the revenue to be $1.72 billion, indicating a 5.36% decline compared to the corresponding quarter of the prior year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.43 per share and a revenue of $6.61 billion, indicating changes of -6.9% and -1.3%, respectively, from the former year.Investors should also note any recent changes to analyst estimates for Marathon Oil. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.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.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 4% fall in the Zacks Consensus EPS estimate. Marathon Oil currently has a Zacks Rank of #3 (Hold).Digging into valuation, Marathon Oil currently has a Forward P/E ratio of 10.66. Its industry sports an average Forward P/E of 17.45, so one might conclude that Marathon Oil is trading at a discount comparatively.The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 183, finds itself in the bottom 28% echelons of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 Oil Corporation (MRO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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