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Phillips 66 (PSX) Gains As Market Dips: What You Should Know
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In the latest trading session, Phillips 66 (PSX - Free Report) closed at $110.25, marking a +0.3% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.08%. Meanwhile, the Dow lost 0.81%, and the Nasdaq, a tech-heavy index, added 0.22%.
Heading into today, shares of the oil refiner had gained 22.72% over the past month, outpacing the Oils-Energy sector's gain of 10.73% and the S&P 500's gain of 1.03% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release. In that report, analysts expect Phillips 66 to post earnings of $4.05 per share. This would mark year-over-year growth of 447.3%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.62 billion, up 20.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.19 per share and revenue of $135.95 billion. These totals would mark changes of +113.86% and +18.37%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Phillips 66. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 32.56% higher. 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 9.02. This represents a discount compared to its industry's average Forward P/E of 10.21.
It is also worth noting that PSX currently has a PEG ratio of 0.78. 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. PSX's industry had an average PEG ratio of 0.77 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 5, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow PSX in the coming trading sessions, be sure to utilize Zacks.com.
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Phillips 66 (PSX) Gains As Market Dips: What You Should Know
In the latest trading session, Phillips 66 (PSX - Free Report) closed at $110.25, marking a +0.3% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.08%. Meanwhile, the Dow lost 0.81%, and the Nasdaq, a tech-heavy index, added 0.22%.
Heading into today, shares of the oil refiner had gained 22.72% over the past month, outpacing the Oils-Energy sector's gain of 10.73% and the S&P 500's gain of 1.03% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release. In that report, analysts expect Phillips 66 to post earnings of $4.05 per share. This would mark year-over-year growth of 447.3%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.62 billion, up 20.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.19 per share and revenue of $135.95 billion. These totals would mark changes of +113.86% and +18.37%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Phillips 66. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 32.56% higher. 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 9.02. This represents a discount compared to its industry's average Forward P/E of 10.21.
It is also worth noting that PSX currently has a PEG ratio of 0.78. 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. PSX's industry had an average PEG ratio of 0.77 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 5, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow PSX in the coming trading sessions, be sure to utilize Zacks.com.