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Phillips 66 (PSX) Stock Moves 1.15%: What You Should Know
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In the latest trading session, Phillips 66 (PSX - Free Report) closed at $92.57, marking a +1.15% move from the previous day. The stock traded in line with S&P 500. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Heading into today, shares of the oil refiner had lost 3.57% over the past month, lagging the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% in that time.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. This is expected to be August 2, 2023. The company is expected to report EPS of $3.84, down 43.28% from the prior-year quarter. 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.
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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.12% lower. Phillips 66 is currently a Zacks Rank #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 6.45. For comparison, its industry has an average Forward P/E of 6.4, which means Phillips 66 is trading at a premium to the group.
Also, we should mention that PSX has a PEG ratio of 0.34. 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. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.86 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.
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 1.15%: What You Should Know
In the latest trading session, Phillips 66 (PSX - Free Report) closed at $92.57, marking a +1.15% move from the previous day. The stock traded in line with S&P 500. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Heading into today, shares of the oil refiner had lost 3.57% over the past month, lagging the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% in that time.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. This is expected to be August 2, 2023. The company is expected to report EPS of $3.84, down 43.28% from the prior-year quarter. 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.
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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.12% lower. Phillips 66 is currently a Zacks Rank #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 6.45. For comparison, its industry has an average Forward P/E of 6.4, which means Phillips 66 is trading at a premium to the group.
Also, we should mention that PSX has a PEG ratio of 0.34. 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. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.86 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.