We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why it is Worth Buying Phillips 66 (PSX) Shares Right Away
Read MoreHide Full Article
Phillips 66 (PSX - Free Report) has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 60 days. The Zacks Consensus Estimate for its 2022 earnings per share suggests a year-over-year surge of 241.2%.
What's Favoring the Stock?
PSX has a diversified business model, with a significant presence in businesses related to refining midstream, chemicals and marketing & specialties. In each of the operations, Phillips 66 has a good footprint pertaining to safety, profitability, size and competitive strengths.
It is focusing more on businesses like midstream, renewables and chemicals, which makes the business model more stable. The firm’s premier midstream operations comprise the U.S. pipeline network, spread across 22,000 miles. Included in the midstream portfolio are multiple refined product terminals, crude oil terminals and NGL terminals. Thus, with a robust midstream business portfolio, Phillips 66 will generate stable cashflows with lower exposure to energy business volatility.
The firm’s financial strength is reflected in its peer-leading investment-grade credit rating. PSX, carrying a Zacks Rank #2 (Buy), also has a disciplined capital allocation strategy. Also, Phillips 66 has more than $10 billion in available liquidity.
Schlumberger is a well-known name in transforming oil and gas industry with the employment of its cutting-edge solutions. With its quantifiably proven solutions, SLB is lowering emissions and its impacts. Over the past 30 days, Schlumberger has witnessed upward earnings estimate revisions for 2022 and 2023, respectively.
The positive oil price trajectory is a boon for BP’s upstream operations. The favorable oil price scenario and increasing daily oil equivalent production volumes are aiding the energy giant’s bottom line. BP stated that the target of adding a net production of 900 thousand barrels of oil equivalent per day by 2021 from key new projects had been delivered.
NexTier Oilfield Solutionsis also a well-known U.S. land oilfield service player. With higher exploration and production by upstream companies, demand for NexTier Oilfield’s diverse set of well completion and production services is handsome.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why it is Worth Buying Phillips 66 (PSX) Shares Right Away
Phillips 66 (PSX - Free Report) has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 60 days. The Zacks Consensus Estimate for its 2022 earnings per share suggests a year-over-year surge of 241.2%.
What's Favoring the Stock?
PSX has a diversified business model, with a significant presence in businesses related to refining midstream, chemicals and marketing & specialties. In each of the operations, Phillips 66 has a good footprint pertaining to safety, profitability, size and competitive strengths.
It is focusing more on businesses like midstream, renewables and chemicals, which makes the business model more stable. The firm’s premier midstream operations comprise the U.S. pipeline network, spread across 22,000 miles. Included in the midstream portfolio are multiple refined product terminals, crude oil terminals and NGL terminals. Thus, with a robust midstream business portfolio, Phillips 66 will generate stable cashflows with lower exposure to energy business volatility.
The firm’s financial strength is reflected in its peer-leading investment-grade credit rating. PSX, carrying a Zacks Rank #2 (Buy), also has a disciplined capital allocation strategy. Also, Phillips 66 has more than $10 billion in available liquidity.
Other Stocks to Consider
Other prospective players in the energy space include Schlumberger Limited (SLB - Free Report) , BP plc (BP - Free Report) and NexTier Oilfield Solutions Inc. . While Schlumberger and BP carry a Zacks Rank #2 (Buy), NexTier Oilfield sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Schlumberger is a well-known name in transforming oil and gas industry with the employment of its cutting-edge solutions. With its quantifiably proven solutions, SLB is lowering emissions and its impacts. Over the past 30 days, Schlumberger has witnessed upward earnings estimate revisions for 2022 and 2023, respectively.
The positive oil price trajectory is a boon for BP’s upstream operations. The favorable oil price scenario and increasing daily oil equivalent production volumes are aiding the energy giant’s bottom line. BP stated that the target of adding a net production of 900 thousand barrels of oil equivalent per day by 2021 from key new projects had been delivered.
NexTier Oilfield Solutionsis also a well-known U.S. land oilfield service player. With higher exploration and production by upstream companies, demand for NexTier Oilfield’s diverse set of well completion and production services is handsome.