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Phillips 66 (PSX - Free Report) closed the most recent trading day at $159.08, moving +0.2% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.68%, and the technology-centric Nasdaq increased by 0.2%.
Coming into today, shares of the oil refiner had gained 10.6% in the past month. In that same time, the Oils-Energy sector gained 6.39%, while the S&P 500 gained 5.11%.
The investment community will be paying close attention to the earnings performance of Phillips 66 in its upcoming release. The company is slated to reveal its earnings on April 26, 2024. The company's upcoming EPS is projected at $2.60, signifying a 38.24% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $31.68 billion, indicating a 9.73% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $12.55 per share and a revenue of $133.87 billion, demonstrating changes of -20.62% and -10.69%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Phillips 66. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 4.77% lower within the past month. As of now, Phillips 66 holds a Zacks Rank of #3 (Hold).
With respect to valuation, Phillips 66 is currently being traded at a Forward P/E ratio of 12.65. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 12.65.
Investors should also note that PSX has a PEG ratio of 2.11 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. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 1.96.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Phillips 66 (PSX) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Phillips 66 (PSX - Free Report) closed the most recent trading day at $159.08, moving +0.2% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.68%, and the technology-centric Nasdaq increased by 0.2%.
Coming into today, shares of the oil refiner had gained 10.6% in the past month. In that same time, the Oils-Energy sector gained 6.39%, while the S&P 500 gained 5.11%.
The investment community will be paying close attention to the earnings performance of Phillips 66 in its upcoming release. The company is slated to reveal its earnings on April 26, 2024. The company's upcoming EPS is projected at $2.60, signifying a 38.24% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $31.68 billion, indicating a 9.73% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $12.55 per share and a revenue of $133.87 billion, demonstrating changes of -20.62% and -10.69%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Phillips 66. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 4.77% lower within the past month. As of now, Phillips 66 holds a Zacks Rank of #3 (Hold).
With respect to valuation, Phillips 66 is currently being traded at a Forward P/E ratio of 12.65. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 12.65.
Investors should also note that PSX has a PEG ratio of 2.11 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. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 1.96.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 81, positioning it in the top 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.