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Phillips 66 (PSX) Outpaces Stock Market Gains: What You Should Know
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Phillips 66 (PSX - Free Report) closed the most recent trading day at $107.71, moving +0.8% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 0.61%.
Prior to today's trading, shares of the oil refiner had gained 16.75% over the past month. This has outpaced the Oils-Energy sector's gain of 7.68% and the S&P 500's gain of 4.86% 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. On that day, Phillips 66 is projected to report earnings of $3.54 per share, which would represent a year-over-year decline of 47.71%. Meanwhile, our latest consensus estimate is calling for revenue of $32.13 billion, down 34.85% from the prior-year quarter.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $13.72 per share and revenue of $131.37 billion. These results would represent year-over-year changes of -26.98% and -25.23%, 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. 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 3.32% lower. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 7.79. Its industry sports an average Forward P/E of 8.09, so we one might conclude that Phillips 66 is trading at a discount comparatively.
Investors should also note that PSX has a PEG ratio of 0.41 right now. 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. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.94 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 191, putting it in the bottom 25% 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) Outpaces Stock Market Gains: What You Should Know
Phillips 66 (PSX - Free Report) closed the most recent trading day at $107.71, moving +0.8% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq gained 0.61%.
Prior to today's trading, shares of the oil refiner had gained 16.75% over the past month. This has outpaced the Oils-Energy sector's gain of 7.68% and the S&P 500's gain of 4.86% 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. On that day, Phillips 66 is projected to report earnings of $3.54 per share, which would represent a year-over-year decline of 47.71%. Meanwhile, our latest consensus estimate is calling for revenue of $32.13 billion, down 34.85% from the prior-year quarter.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $13.72 per share and revenue of $131.37 billion. These results would represent year-over-year changes of -26.98% and -25.23%, 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. 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 3.32% lower. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 7.79. Its industry sports an average Forward P/E of 8.09, so we one might conclude that Phillips 66 is trading at a discount comparatively.
Investors should also note that PSX has a PEG ratio of 0.41 right now. 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. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.94 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 191, putting it in the bottom 25% 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.