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Phillips 66 (PSX) Stock Moves -0.21%: What You Should Know
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Phillips 66 (PSX - Free Report) closed at $93.28 in the latest trading session, marking a -0.21% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.53%.
Coming into today, shares of the oil refiner had lost 2.26% in the past month. In that same time, the Oils-Energy sector gained 1.09%, while the S&P 500 gained 4.86%.
Phillips 66 will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2023. On that day, Phillips 66 is projected to report earnings of $3.84 per share, which would represent a year-over-year decline of 43.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $32.47 billion, down 34.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.20 per share and revenue of $132.17 billion, which would represent changes of -24.43% and -24.78%, respectively, from the prior year.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.2% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 6.59. For comparison, its industry has an average Forward P/E of 6.62, which means Phillips 66 is trading at a discount to the group.
We can also see that PSX currently has a PEG ratio of 0.35. 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. The Oil and Gas - Refining and Marketing industry currently 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 industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Phillips 66 (PSX) Stock Moves -0.21%: What You Should Know
Phillips 66 (PSX - Free Report) closed at $93.28 in the latest trading session, marking a -0.21% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.53%.
Coming into today, shares of the oil refiner had lost 2.26% in the past month. In that same time, the Oils-Energy sector gained 1.09%, while the S&P 500 gained 4.86%.
Phillips 66 will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2023. On that day, Phillips 66 is projected to report earnings of $3.84 per share, which would represent a year-over-year decline of 43.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $32.47 billion, down 34.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.20 per share and revenue of $132.17 billion, which would represent changes of -24.43% and -24.78%, respectively, from the prior year.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.2% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 6.59. For comparison, its industry has an average Forward P/E of 6.62, which means Phillips 66 is trading at a discount to the group.
We can also see that PSX currently has a PEG ratio of 0.35. 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. The Oil and Gas - Refining and Marketing industry currently 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 industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.