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Phillips 66 (PSX) Gains But Lags Market: What You Should Know
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Phillips 66 (PSX - Free Report) closed the most recent trading day at $95.38, moving +0.9% from the previous trading session. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq lost 2.24%.
Heading into today, shares of the oil refiner had gained 1.59% over the past month, lagging the Oils-Energy sector's gain of 3.61% and the S&P 500's gain of 4.67% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release, which 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.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $14.20 per share and revenue of $127.84 billion. These results would represent year-over-year changes of -24.43% and -27.24%, respectively.
Investors should also note any recent changes to analyst estimates for Phillips 66. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 1.12% lower within the past month. Phillips 66 currently has a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 6.66. This represents a premium compared to its industry's average Forward P/E of 6.55.
Investors should also note that PSX has a PEG ratio of 0.35 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. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.87 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 186, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Phillips 66 (PSX) Gains But Lags Market: What You Should Know
Phillips 66 (PSX - Free Report) closed the most recent trading day at $95.38, moving +0.9% from the previous trading session. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq lost 2.24%.
Heading into today, shares of the oil refiner had gained 1.59% over the past month, lagging the Oils-Energy sector's gain of 3.61% and the S&P 500's gain of 4.67% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release, which 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.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $14.20 per share and revenue of $127.84 billion. These results would represent year-over-year changes of -24.43% and -27.24%, respectively.
Investors should also note any recent changes to analyst estimates for Phillips 66. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 1.12% lower within the past month. Phillips 66 currently has a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 6.66. This represents a premium compared to its industry's average Forward P/E of 6.55.
Investors should also note that PSX has a PEG ratio of 0.35 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. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.87 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 186, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.