In the latest trading session, Marathon Petroleum (MPC) closed at $157.90, marking a +0.56% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.47%. Meanwhile, the Dow gained 0.79%, and the Nasdaq, a tech-heavy index, added 0.28%.

The the stock of refiner has fallen by 4.18% in the past month, leading the Oils-Energy sector's loss of 6.86% and undershooting the S&P 500's gain of 3.48%.

The investment community will be paying close attention to the earnings performance of Marathon Petroleum in its upcoming release. The company is slated to reveal its earnings on November 5, 2024. The company's earnings per share (EPS) are projected to be $1, reflecting an 87.71% decrease from the same quarter last 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.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.41 per share and revenue of $134.66 billion, indicating changes of -60.18% and -10.41%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for Marathon Petroleum. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 34.08% lower. At present, Marathon Petroleum boasts a Zacks Rank of #5 (Strong Sell).

In terms of valuation, Marathon Petroleum is currently trading at a Forward P/E ratio of 16.69. This represents no noticeable deviation compared to its industry's average Forward P/E of 16.69.

It's also important to note that MPC currently trades at a PEG ratio of 2.78. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Refining and Marketing industry stood at 2.78 at the close of the market yesterday.