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Phillips 66 (PSX) Stock Moves -0.95%: What You Should Know
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Phillips 66 (PSX - Free Report) closed at $80.63 in the latest trading session, marking a -0.95% move from the prior day. This change was narrower than the S&P 500's 2.11% loss on the day. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Coming into today, shares of the oil refiner had lost 9.01% in the past month. In that same time, the Oils-Energy sector lost 11.61%, while the S&P 500 lost 8.19%.
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. On that day, Phillips 66 is projected to report earnings of $4.91 per share, which would represent year-over-year growth of 54.4%. Our most recent consensus estimate is calling for quarterly revenue of $35.89 billion, up 14.05% from the year-ago period.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $16.19 per share and revenue of $155.03 billion. These results would represent year-over-year changes of +184.04% and +34.99%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 0.97% higher within the past month. Phillips 66 is currently a Zacks Rank #3 (Hold).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 5.03. This represents a no noticeable deviation compared to its industry's average Forward P/E of 5.03.
Investors should also note that PSX has a PEG ratio of 0.41 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 0.41 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 10, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Moves -0.95%: What You Should Know
Phillips 66 (PSX - Free Report) closed at $80.63 in the latest trading session, marking a -0.95% move from the prior day. This change was narrower than the S&P 500's 2.11% loss on the day. Meanwhile, the Dow lost 1.54%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Coming into today, shares of the oil refiner had lost 9.01% in the past month. In that same time, the Oils-Energy sector lost 11.61%, while the S&P 500 lost 8.19%.
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. On that day, Phillips 66 is projected to report earnings of $4.91 per share, which would represent year-over-year growth of 54.4%. Our most recent consensus estimate is calling for quarterly revenue of $35.89 billion, up 14.05% from the year-ago period.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $16.19 per share and revenue of $155.03 billion. These results would represent year-over-year changes of +184.04% and +34.99%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 0.97% higher within the past month. Phillips 66 is currently a Zacks Rank #3 (Hold).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 5.03. This represents a no noticeable deviation compared to its industry's average Forward P/E of 5.03.
Investors should also note that PSX has a PEG ratio of 0.41 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 0.41 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 10, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.