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Phillips 66 (PSX) Registers a Bigger Fall Than the Market: Important Facts to Note
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The latest trading session saw Phillips 66 (PSX - Free Report) ending at $109.48, denoting a -0.91% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.13% for the day. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.12%.
The the stock of oil refiner has fallen by 5.27% in the past month, lagging the Oils-Energy sector's loss of 5.06% and overreaching the S&P 500's loss of 5.53%.
The investment community will be closely monitoring the performance of Phillips 66 in its forthcoming earnings report. The company is scheduled to release its earnings on October 27, 2023. The company is predicted to post an EPS of $5.14, indicating a 20.43% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $34.18 billion, down 29.9% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $16.57 per share and revenue of $138.37 billion. These totals would mark changes of -11.81% and -21.25%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Phillips 66. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.27% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Phillips 66 is presently trading at a Forward P/E ratio of 6.67. For comparison, its industry has an average Forward P/E of 6.61, which means Phillips 66 is trading at a premium to the group.
Investors should also note that PSX has a PEG ratio of 0.36 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Oil and Gas - Refining and Marketing industry stood at 0.92 at the close of the market yesterday.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Phillips 66 (PSX) Registers a Bigger Fall Than the Market: Important Facts to Note
The latest trading session saw Phillips 66 (PSX - Free Report) ending at $109.48, denoting a -0.91% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.13% for the day. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.12%.
The the stock of oil refiner has fallen by 5.27% in the past month, lagging the Oils-Energy sector's loss of 5.06% and overreaching the S&P 500's loss of 5.53%.
The investment community will be closely monitoring the performance of Phillips 66 in its forthcoming earnings report. The company is scheduled to release its earnings on October 27, 2023. The company is predicted to post an EPS of $5.14, indicating a 20.43% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $34.18 billion, down 29.9% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $16.57 per share and revenue of $138.37 billion. These totals would mark changes of -11.81% and -21.25%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Phillips 66. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.27% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Phillips 66 is presently trading at a Forward P/E ratio of 6.67. For comparison, its industry has an average Forward P/E of 6.61, which means Phillips 66 is trading at a premium to the group.
Investors should also note that PSX has a PEG ratio of 0.36 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Oil and Gas - Refining and Marketing industry stood at 0.92 at the close of the market yesterday.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.