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Phillips 66 (PSX) Laps the Stock Market: Here's Why
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The most recent trading session ended with Phillips 66 (PSX - Free Report) standing at $172.71, reflecting a +1.9% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.11%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, added 0.23%.
The the stock of oil refiner has risen by 16.01% in the past month, leading the Oils-Energy sector's gain of 8.5% and the S&P 500's gain of 1.5%.
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 upcoming EPS is projected at $2.63, signifying a 37.53% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $31.68 billion, reflecting a 9.73% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.85 per share and revenue of $133.87 billion, indicating changes of -18.72% and -10.69%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Phillips 66. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.62% lower. Phillips 66 is currently a Zacks Rank #3 (Hold).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 13.19. Its industry sports an average Forward P/E of 13.28, so one might conclude that Phillips 66 is trading at a discount comparatively.
Meanwhile, PSX's PEG ratio is currently 2.2. 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. PSX's industry had an average PEG ratio of 2.01 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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) Laps the Stock Market: Here's Why
The most recent trading session ended with Phillips 66 (PSX - Free Report) standing at $172.71, reflecting a +1.9% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.11%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, added 0.23%.
The the stock of oil refiner has risen by 16.01% in the past month, leading the Oils-Energy sector's gain of 8.5% and the S&P 500's gain of 1.5%.
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 upcoming EPS is projected at $2.63, signifying a 37.53% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $31.68 billion, reflecting a 9.73% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.85 per share and revenue of $133.87 billion, indicating changes of -18.72% and -10.69%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Phillips 66. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.62% lower. Phillips 66 is currently a Zacks Rank #3 (Hold).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 13.19. Its industry sports an average Forward P/E of 13.28, so one might conclude that Phillips 66 is trading at a discount comparatively.
Meanwhile, PSX's PEG ratio is currently 2.2. 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. PSX's industry had an average PEG ratio of 2.01 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.