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Phillips 66 (PSX) Rises As Market Takes a Dip: Key Facts
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Phillips 66 (PSX - Free Report) closed the most recent trading day at $134.29, moving +0.86% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.57%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Shares of the oil refiner have appreciated by 3.66% over the course of the past month, outperforming the Oils-Energy sector's gain of 0.24% and lagging the S&P 500's gain of 4%.
Market participants will be closely following the financial results of Phillips 66 in its upcoming release. The company plans to announce its earnings on January 31, 2024. The company's earnings per share (EPS) are projected to be $2.67, reflecting a 33.25% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.76 billion, down 15.02% from the year-ago period.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, there's been a 0.38% fall in the Zacks Consensus EPS estimate. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is presently being traded at a Forward P/E ratio of 10.2. This denotes a premium relative to the industry's average Forward P/E of 10.11.
One should further note that PSX currently holds a PEG ratio of 1.7. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 1.58 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Phillips 66 (PSX) Rises As Market Takes a Dip: Key Facts
Phillips 66 (PSX - Free Report) closed the most recent trading day at $134.29, moving +0.86% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.57%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Shares of the oil refiner have appreciated by 3.66% over the course of the past month, outperforming the Oils-Energy sector's gain of 0.24% and lagging the S&P 500's gain of 4%.
Market participants will be closely following the financial results of Phillips 66 in its upcoming release. The company plans to announce its earnings on January 31, 2024. The company's earnings per share (EPS) are projected to be $2.67, reflecting a 33.25% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.76 billion, down 15.02% from the year-ago period.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, there's been a 0.38% fall in the Zacks Consensus EPS estimate. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is presently being traded at a Forward P/E ratio of 10.2. This denotes a premium relative to the industry's average Forward P/E of 10.11.
One should further note that PSX currently holds a PEG ratio of 1.7. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 1.58 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.