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Phillips 66 (PSX) Stock Drops Despite Market Gains: Important Facts to Note
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Phillips 66 (PSX - Free Report) closed at $129.47 in the latest trading session, marking a -1.25% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.56%.
The oil refiner's shares have seen a decrease of 3.05% over the last month, not keeping up with the Oils-Energy sector's loss of 0.05% and the S&P 500's gain of 1.65%.
The investment community will be paying close attention to the earnings performance of Phillips 66 in its upcoming release. The company is slated to reveal its earnings on October 29, 2024. On that day, Phillips 66 is projected to report earnings of $2.18 per share, which would represent a year-over-year decline of 52.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $32.04 billion, down 20.55% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.31 per share and a revenue of $138.92 billion, representing changes of -47.44% and -7.32%, respectively, from the prior year.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.14% lower. Phillips 66 currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Phillips 66 has a Forward P/E ratio of 15.77 right now. This represents a premium compared to its industry's average Forward P/E of 15.35.
It's also important to note that PSX currently trades at a PEG ratio of 5.26. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 3.14.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 205, placing it within the bottom 19% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Phillips 66 (PSX) Stock Drops Despite Market Gains: Important Facts to Note
Phillips 66 (PSX - Free Report) closed at $129.47 in the latest trading session, marking a -1.25% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.56%.
The oil refiner's shares have seen a decrease of 3.05% over the last month, not keeping up with the Oils-Energy sector's loss of 0.05% and the S&P 500's gain of 1.65%.
The investment community will be paying close attention to the earnings performance of Phillips 66 in its upcoming release. The company is slated to reveal its earnings on October 29, 2024. On that day, Phillips 66 is projected to report earnings of $2.18 per share, which would represent a year-over-year decline of 52.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $32.04 billion, down 20.55% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.31 per share and a revenue of $138.92 billion, representing changes of -47.44% and -7.32%, respectively, from the prior year.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.14% lower. Phillips 66 currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Phillips 66 has a Forward P/E ratio of 15.77 right now. This represents a premium compared to its industry's average Forward P/E of 15.35.
It's also important to note that PSX currently trades at a PEG ratio of 5.26. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 3.14.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 205, placing it within the bottom 19% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.