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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 $264.34, moving +2.83% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.78%.
Prior to today's trading, shares of the oil refiner had gained 6.86% outpaced the Oils-Energy sector's gain of 2% and the S&P 500's loss of 1.99%.
Market participants will be closely following the financial results of Phillips 66 in its upcoming release. The company is forecasted to report an EPS of $8.73, showcasing a 246.43% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $35.54 billion, reflecting a 1.62% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $24.47 per share and a revenue of $156.82 billion, signifying shifts of +279.97% and +14.84%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Phillips 66. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has moved 0.12% higher. Currently, Phillips 66 is carrying a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Phillips 66 has a Forward P/E ratio of 10.51 right now. This valuation marks a premium compared to its industry average Forward P/E of 9.13.
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 19, placing it within the top 8% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
View the Zacks #1 Rank List
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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 $264.34, moving +2.83% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.78%.
Prior to today's trading, shares of the oil refiner had gained 6.86% outpaced the Oils-Energy sector's gain of 2% and the S&P 500's loss of 1.99%.
Market participants will be closely following the financial results of Phillips 66 in its upcoming release. The company is forecasted to report an EPS of $8.73, showcasing a 246.43% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $35.54 billion, reflecting a 1.62% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $24.47 per share and a revenue of $156.82 billion, signifying shifts of +279.97% and +14.84%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Phillips 66. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has moved 0.12% higher. Currently, Phillips 66 is carrying a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Phillips 66 has a Forward P/E ratio of 10.51 right now. This valuation marks a premium compared to its industry average Forward P/E of 9.13.
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 19, placing it within the top 8% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.