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Phillips 66 (PSX) Stock Moves -0.76%: What You Should Know
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In the latest trading session, Phillips 66 (PSX - Free Report) closed at $95.40, marking a -0.76% move from the previous day. This change was narrower than the S&P 500's 0.79% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 2.71%.
Heading into today, shares of the oil refiner had lost 4.87% over the past month, lagging the Oils-Energy sector's gain of 1.6% and the S&P 500's gain of 4.16% 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. In that report, analysts expect Phillips 66 to post earnings of $3.88 per share. This would mark a year-over-year decline of 42.69%. 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 per share and revenue of $127.84 billion. These results would represent year-over-year changes of -25.49% 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 2.59% lower. Phillips 66 is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 6.87. This valuation marks a premium compared to its industry's average Forward P/E of 6.64.
We can also see that PSX currently has a PEG ratio of 0.37. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.87 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Phillips 66 (PSX) Stock Moves -0.76%: What You Should Know
In the latest trading session, Phillips 66 (PSX - Free Report) closed at $95.40, marking a -0.76% move from the previous day. This change was narrower than the S&P 500's 0.79% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 2.71%.
Heading into today, shares of the oil refiner had lost 4.87% over the past month, lagging the Oils-Energy sector's gain of 1.6% and the S&P 500's gain of 4.16% 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. In that report, analysts expect Phillips 66 to post earnings of $3.88 per share. This would mark a year-over-year decline of 42.69%. 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 per share and revenue of $127.84 billion. These results would represent year-over-year changes of -25.49% 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 2.59% lower. Phillips 66 is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 6.87. This valuation marks a premium compared to its industry's average Forward P/E of 6.64.
We can also see that PSX currently has a PEG ratio of 0.37. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.87 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.