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Phillips 66 (PSX) Gains But Lags Market: What You Should Know
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Phillips 66 (PSX - Free Report) closed at $95.46 in the latest trading session, marking a +1.45% move from the prior day. This change lagged the S&P 500's 2.65% gain on the day. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the oil refiner had gained 16.56% over the past month. This has outpaced the Oils-Energy sector's loss of 4.88% and the S&P 500's loss of 8.99% in that time.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. This is expected to be November 1, 2022. In that report, analysts expect Phillips 66 to post earnings of $5.08 per share. This would mark year-over-year growth of 59.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $35.78 billion, up 13.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.45 per share and revenue of $154.82 billion. These totals would mark changes of +188.6% and +34.8%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Phillips 66. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 1.42% higher within the past month. Phillips 66 currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 5.72. For comparison, its industry has an average Forward P/E of 5.72, which means Phillips 66 is trading at a no noticeable deviation to the group.
Investors should also note that PSX has a PEG ratio of 0.47 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PSX's industry had an average PEG ratio of 0.47 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 1, putting it in the top 1% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Phillips 66 (PSX) Gains But Lags Market: What You Should Know
Phillips 66 (PSX - Free Report) closed at $95.46 in the latest trading session, marking a +1.45% move from the prior day. This change lagged the S&P 500's 2.65% gain on the day. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the oil refiner had gained 16.56% over the past month. This has outpaced the Oils-Energy sector's loss of 4.88% and the S&P 500's loss of 8.99% in that time.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. This is expected to be November 1, 2022. In that report, analysts expect Phillips 66 to post earnings of $5.08 per share. This would mark year-over-year growth of 59.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $35.78 billion, up 13.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.45 per share and revenue of $154.82 billion. These totals would mark changes of +188.6% and +34.8%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Phillips 66. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 1.42% higher within the past month. Phillips 66 currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 5.72. For comparison, its industry has an average Forward P/E of 5.72, which means Phillips 66 is trading at a no noticeable deviation to the group.
Investors should also note that PSX has a PEG ratio of 0.47 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PSX's industry had an average PEG ratio of 0.47 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 1, putting it in the top 1% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.