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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 $95.70, moving -1.22% from the previous trading session. This move lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 0.61%.
Prior to today's trading, shares of the oil refiner had gained 5.43% over the past month. This has outpaced the Oils-Energy sector's gain of 2.92% and lagged the S&P 500's gain of 6.1% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.84, down 43.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $32.47 billion, down 34.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.25 per share and revenue of $132.17 billion, which would represent changes of -24.16% and -24.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Phillips 66. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.13% lower. Phillips 66 is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 6.8. For comparison, its industry has an average Forward P/E of 6.8, which means Phillips 66 is trading at a no noticeable deviation to the group.
Investors should also note that PSX has a PEG ratio of 0.36 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. PSX's industry had an average PEG ratio of 0.89 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 177, putting it in the bottom 30% 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) Stock Sinks As Market Gains: What You Should Know
Phillips 66 (PSX - Free Report) closed the most recent trading day at $95.70, moving -1.22% from the previous trading session. This move lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 0.61%.
Prior to today's trading, shares of the oil refiner had gained 5.43% over the past month. This has outpaced the Oils-Energy sector's gain of 2.92% and lagged the S&P 500's gain of 6.1% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.84, down 43.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $32.47 billion, down 34.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.25 per share and revenue of $132.17 billion, which would represent changes of -24.16% and -24.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Phillips 66. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.13% lower. Phillips 66 is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 6.8. For comparison, its industry has an average Forward P/E of 6.8, which means Phillips 66 is trading at a no noticeable deviation to the group.
Investors should also note that PSX has a PEG ratio of 0.36 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. PSX's industry had an average PEG ratio of 0.89 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 177, putting it in the bottom 30% 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.