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Phillips 66 (PSX) Dips More Than Broader Markets: What You Should Know
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Phillips 66 (PSX - Free Report) closed at $91.11 in the latest trading session, marking a -1.5% move from the prior day. This change lagged the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the oil refiner had gained 5.08% over the past month. This has outpaced the Oils-Energy sector's gain of 1.45% and the S&P 500's loss of 8.4% in that time.
Investors will be hoping for strength from Phillips 66 as it approaches its next earnings release, which is expected to be November 1, 2022. The company is expected to report EPS of $5.04, up 58.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $35.85 billion, up 13.9% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.31 per share and revenue of $154.99 billion. These totals would mark changes of +186.14% and +34.95%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Phillips 66. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.75% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 5.67. This represents a no noticeable deviation compared to its industry's average Forward P/E of 5.67.
Investors should also note that PSX has a PEG ratio of 0.46 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PSX's industry had an average PEG ratio of 0.46 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Phillips 66 (PSX) Dips More Than Broader Markets: What You Should Know
Phillips 66 (PSX - Free Report) closed at $91.11 in the latest trading session, marking a -1.5% move from the prior day. This change lagged the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the oil refiner had gained 5.08% over the past month. This has outpaced the Oils-Energy sector's gain of 1.45% and the S&P 500's loss of 8.4% in that time.
Investors will be hoping for strength from Phillips 66 as it approaches its next earnings release, which is expected to be November 1, 2022. The company is expected to report EPS of $5.04, up 58.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $35.85 billion, up 13.9% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.31 per share and revenue of $154.99 billion. These totals would mark changes of +186.14% and +34.95%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Phillips 66. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.75% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 5.67. This represents a no noticeable deviation compared to its industry's average Forward P/E of 5.67.
Investors should also note that PSX has a PEG ratio of 0.46 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PSX's industry had an average PEG ratio of 0.46 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.