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Phillips 66 (PSX) Stock Slides as Market Rises: Facts to Know Before You Trade
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Phillips 66 (PSX - Free Report) closed at $173.26 in the latest trading session, marking a -3.45% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.65%. Elsewhere, the Dow saw an upswing of 0.92%, while the tech-heavy Nasdaq appreciated by 3.07%.
Heading into today, shares of the oil refiner had gained 1.84% over the past month, outpacing the Oils-Energy sector's loss of 2.71% and the S&P 500's gain of 0.48%.
Market participants will be closely following the financial results of Phillips 66 in its upcoming release. On that day, Phillips 66 is projected to report earnings of $5.94 per share, which would represent year-over-year growth of 149.58%. Meanwhile, our latest consensus estimate is calling for revenue of $35.32 billion, up 5.37% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.95 per share and a revenue of $141.01 billion, representing changes of +178.73% and +3.26%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Phillips 66. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.49% higher within the past month. Phillips 66 is currently a Zacks Rank #1 (Strong Buy).
With respect to valuation, Phillips 66 is currently being traded at a Forward P/E ratio of 10. This expresses a premium compared to the average Forward P/E of 9.54 of its industry.
We can additionally observe that PSX currently boasts a PEG ratio of 0.26. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. PSX's industry had an average PEG ratio of 0.38 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 20, finds itself in the top 9% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Phillips 66 (PSX) Stock Slides as Market Rises: Facts to Know Before You Trade
Phillips 66 (PSX - Free Report) closed at $173.26 in the latest trading session, marking a -3.45% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.65%. Elsewhere, the Dow saw an upswing of 0.92%, while the tech-heavy Nasdaq appreciated by 3.07%.
Heading into today, shares of the oil refiner had gained 1.84% over the past month, outpacing the Oils-Energy sector's loss of 2.71% and the S&P 500's gain of 0.48%.
Market participants will be closely following the financial results of Phillips 66 in its upcoming release. On that day, Phillips 66 is projected to report earnings of $5.94 per share, which would represent year-over-year growth of 149.58%. Meanwhile, our latest consensus estimate is calling for revenue of $35.32 billion, up 5.37% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.95 per share and a revenue of $141.01 billion, representing changes of +178.73% and +3.26%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Phillips 66. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.49% higher within the past month. Phillips 66 is currently a Zacks Rank #1 (Strong Buy).
With respect to valuation, Phillips 66 is currently being traded at a Forward P/E ratio of 10. This expresses a premium compared to the average Forward P/E of 9.54 of its industry.
We can additionally observe that PSX currently boasts a PEG ratio of 0.26. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. PSX's industry had an average PEG ratio of 0.38 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 20, finds itself in the top 9% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.