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Phillips 66 (PSX) Stock Falls Amid Market Uptick: What Investors Need to Know
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Phillips 66 (PSX - Free Report) closed the most recent trading day at $109.19, moving -0.26% from the previous trading session. This change lagged the S&P 500's 1.18% gain on the day. Meanwhile, the Dow experienced a rise of 0.87%, and the technology-dominated Nasdaq saw an increase of 1.6%.
Prior to today's trading, shares of the oil refiner had lost 7.81% over the past month. This has lagged the Oils-Energy sector's loss of 5.46% and the S&P 500's loss of 5.17% in that time.
Investors will be eagerly watching for the performance of Phillips 66 in its upcoming earnings disclosure. The company's earnings report is set to be unveiled 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, the Zacks Consensus Estimate for revenue is projecting net sales of $34.16 billion, down 29.95% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $16.57 per share and a revenue of $138.34 billion, demonstrating changes of -11.81% and -21.26%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Phillips 66. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 7.27% upward. Right now, Phillips 66 possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Phillips 66 is currently exchanging hands at a Forward P/E ratio of 6.61. This denotes no noticeable deviation relative to the industry's average Forward P/E of 6.61.
It's also important to note that PSX currently trades at a PEG ratio of 0.35. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Oil and Gas - Refining and Marketing industry had an average PEG ratio of 0.92.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Phillips 66 (PSX) Stock Falls Amid Market Uptick: What Investors Need to Know
Phillips 66 (PSX - Free Report) closed the most recent trading day at $109.19, moving -0.26% from the previous trading session. This change lagged the S&P 500's 1.18% gain on the day. Meanwhile, the Dow experienced a rise of 0.87%, and the technology-dominated Nasdaq saw an increase of 1.6%.
Prior to today's trading, shares of the oil refiner had lost 7.81% over the past month. This has lagged the Oils-Energy sector's loss of 5.46% and the S&P 500's loss of 5.17% in that time.
Investors will be eagerly watching for the performance of Phillips 66 in its upcoming earnings disclosure. The company's earnings report is set to be unveiled 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, the Zacks Consensus Estimate for revenue is projecting net sales of $34.16 billion, down 29.95% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $16.57 per share and a revenue of $138.34 billion, demonstrating changes of -11.81% and -21.26%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Phillips 66. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 7.27% upward. Right now, Phillips 66 possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Phillips 66 is currently exchanging hands at a Forward P/E ratio of 6.61. This denotes no noticeable deviation relative to the industry's average Forward P/E of 6.61.
It's also important to note that PSX currently trades at a PEG ratio of 0.35. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Oil and Gas - Refining and Marketing industry had an average PEG ratio of 0.92.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.