Marathon Petroleum Corporation (NYSE:MPC) shed 19.43% last week to close at $87. This comes after the bear market is confirmed. While bear market fears are indeed real, this analysis considers Marathon Petroleum a strong buy.
Marathon Petroleum Corporation operates in the oil and gas industry. It is a leading refiner, transporter, and marketer of energy products. With the oil and gas prices increasing, the sector has been strong. Zacks Research ranks the company in the top 4% of the industry by performance.
The company’s projected EPS for the year is $4.63. That places the PE at 20.00. The projected growth in earnings is 19.95%. As a result, the PEG ratio is 0.32. That makes Marathon Petroleum an attractive value stock.
Our analysis shows reasons why investing in Marathon Petroleum is recommended. The energy sector is projected to remain strong as prices remain elevated. The company is projected to remain fundamentally strong. That strength will then reflect on the market through strong momentum.
Marathon Petroleum declines 19.43% creating buying opportunities
Source – TradingView
Marathon Petroleum stock declined 19.43% last week. The decline was informed by confirmation of the bear market. This analysis projects that the decline put the stock at the lowest high that can be expected under the circumstances. The company is expected to retrace the value and set a new high in the coming weeks. The price target is set at $110.
Summary
We strongly recommend buying Marathon Petroleum stock. The oil and gas sector will remain strong,o and so is the case for Marathon Petroleum. Last week’s price decline creates opportunities for new investors to join.
The post Marathon Petroleum is a strong buy as earnings and momentum remain strong appeared first on Invezz.
