Back to top

Image: Bigstock

Phillips 66 (PSX) Rises Higher Than Market: Key Facts

Read MoreHide Full Article

In the latest market close, Phillips 66 (PSX - Free Report) reached $158.76, with a +1.13% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.89%. At the same time, the Dow added 1.03%, and the tech-heavy Nasdaq gained 1.25%.

The oil refiner's shares have seen an increase of 11.23% over the last month, surpassing the Oils-Energy sector's gain of 5.25% and the S&P 500's gain of 3.56%.

Market participants will be closely following the financial results of Phillips 66 in its upcoming release. The company plans to announce its earnings on April 26, 2024. The company's earnings per share (EPS) are projected to be $2.60, reflecting a 38.24% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $31.68 billion, showing a 9.73% drop compared to the year-ago quarter.

PSX's full-year Zacks Consensus Estimates are calling for earnings of $12.55 per share and revenue of $133.87 billion. These results would represent year-over-year changes of -20.62% and -10.69%, respectively.

It's also important for investors to be aware of any recent modifications to analyst estimates for Phillips 66. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 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. Over the past month, there's been a 4.77% fall in the Zacks Consensus EPS estimate. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 12.51. This represents no noticeable deviation compared to its industry's average Forward P/E of 12.51.

We can also see that PSX currently has a PEG ratio of 2.08. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Refining and Marketing industry held an average PEG ratio of 1.93.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 34% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Phillips 66 (PSX) - free report >>

Published in