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Phillips 66 (PSX) Stock Sinks As Market Gains: What You Should Know
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Phillips 66 (PSX - Free Report) closed the most recent trading day at $101.57, moving -0.43% from the previous trading session. This change lagged the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 7.5%.
Coming into today, shares of the oil refiner had lost 0.06% in the past month. In that same time, the Oils-Energy sector gained 3.67%, while the S&P 500 lost 0.94%.
Investors will be hoping for strength from Phillips 66 as it approaches its next earnings release, which is expected to be January 31, 2023. In that report, analysts expect Phillips 66 to post earnings of $4.45 per share. This would mark year-over-year growth of 51.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $37.03 billion, up 10.31% from the year-ago period.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 0.23% lower. Phillips 66 is currently a Zacks Rank #3 (Hold).
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 7.21. This valuation marks a discount compared to its industry's average Forward P/E of 8.05.
Investors should also note that PSX has a PEG ratio of 0.41 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.57 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% 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) Stock Sinks As Market Gains: What You Should Know
Phillips 66 (PSX - Free Report) closed the most recent trading day at $101.57, moving -0.43% from the previous trading session. This change lagged the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 7.5%.
Coming into today, shares of the oil refiner had lost 0.06% in the past month. In that same time, the Oils-Energy sector gained 3.67%, while the S&P 500 lost 0.94%.
Investors will be hoping for strength from Phillips 66 as it approaches its next earnings release, which is expected to be January 31, 2023. In that report, analysts expect Phillips 66 to post earnings of $4.45 per share. This would mark year-over-year growth of 51.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $37.03 billion, up 10.31% from the year-ago period.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 0.23% lower. Phillips 66 is currently a Zacks Rank #3 (Hold).
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 7.21. This valuation marks a discount compared to its industry's average Forward P/E of 8.05.
Investors should also note that PSX has a PEG ratio of 0.41 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.57 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% 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.