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Phillips 66 (PSX) Hits Fresh High: Is There Still Room to Run?
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A strong stock as of late has been Phillips 66 (PSX - Free Report) . Shares have been marching higher, with the stock up 8.9% over the past month. The stock hit a new 52-week high of $282.64 in the previous session. Phillips 66 has gained 118.2% since the start of the year compared to the 37.2% move for the Zacks Oils-Energy sector and the 150.3% return for the Zacks Oil and Gas - Refining and Marketing industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 5, 2026, Phillips 66 reported EPS of $9.41 versus consensus estimate of $7.68.
For the current fiscal year, Phillips 66 is expected to post earnings of $29.01 per share on $157.49 in revenues. This represents a 350.47% change in EPS on a 15.33% change in revenues. For the next fiscal year, the company is expected to earn $29.79 per share on $147.13 in revenues. This represents a year-over-year change of 2.66% and -6.58%, respectively.
Valuation Metrics
Though Phillips 66 has recently hit a 52-week high, what is next for Phillips 66? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
Phillips 66 has a Value Score of B. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 9.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 8.9X. On a trailing cash flow basis, the stock currently trades at 19.1X versus its peer group's average of 12X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to look at the Zacks Rank for the stock, as this is even more important than the company's VGM Score. Fortunately, Phillips 66 currently has a Zacks Rank of #1 (Strong Buy) thanks to favorable earnings estimate revisions from covering analysts.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Phillips 66 passes the test. Thus, it seems as though Phillips 66 shares could still be poised for more gains ahead.
How Does PSX Stack Up to the Competition?
Shares of PSX have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is PBF Energy Inc. (PBF - Free Report) . PBF has a Zacks Rank of #1 (Strong Buy) and a Value Score of A, a Growth Score of A, and a Momentum Score of A.
Earnings were strong last quarter. PBF Energy Inc. beat our consensus estimate by 53.58%, and for the current fiscal year, PBF is expected to post earnings of $24.69 per share on revenue of $39.14 billion.
Shares of PBF Energy Inc. have gained 15.9% over the past month, and currently trade at a forward P/E of 3.62X and a P/CF of 55.51X.
The Oil and Gas - Refining and Marketing industry is in the top 2% of all the industries we have in our universe, so it looks like there are some nice tailwinds for PSX and PBF, even beyond their own solid fundamental situation.
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Phillips 66 (PSX) Hits Fresh High: Is There Still Room to Run?
A strong stock as of late has been Phillips 66 (PSX - Free Report) . Shares have been marching higher, with the stock up 8.9% over the past month. The stock hit a new 52-week high of $282.64 in the previous session. Phillips 66 has gained 118.2% since the start of the year compared to the 37.2% move for the Zacks Oils-Energy sector and the 150.3% return for the Zacks Oil and Gas - Refining and Marketing industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 5, 2026, Phillips 66 reported EPS of $9.41 versus consensus estimate of $7.68.
For the current fiscal year, Phillips 66 is expected to post earnings of $29.01 per share on $157.49 in revenues. This represents a 350.47% change in EPS on a 15.33% change in revenues. For the next fiscal year, the company is expected to earn $29.79 per share on $147.13 in revenues. This represents a year-over-year change of 2.66% and -6.58%, respectively.
Valuation Metrics
Though Phillips 66 has recently hit a 52-week high, what is next for Phillips 66? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
Phillips 66 has a Value Score of B. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 9.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 8.9X. On a trailing cash flow basis, the stock currently trades at 19.1X versus its peer group's average of 12X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to look at the Zacks Rank for the stock, as this is even more important than the company's VGM Score. Fortunately, Phillips 66 currently has a Zacks Rank of #1 (Strong Buy) thanks to favorable earnings estimate revisions from covering analysts.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Phillips 66 passes the test. Thus, it seems as though Phillips 66 shares could still be poised for more gains ahead.
How Does PSX Stack Up to the Competition?
Shares of PSX have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is PBF Energy Inc. (PBF - Free Report) . PBF has a Zacks Rank of #1 (Strong Buy) and a Value Score of A, a Growth Score of A, and a Momentum Score of A.
Earnings were strong last quarter. PBF Energy Inc. beat our consensus estimate by 53.58%, and for the current fiscal year, PBF is expected to post earnings of $24.69 per share on revenue of $39.14 billion.
Shares of PBF Energy Inc. have gained 15.9% over the past month, and currently trade at a forward P/E of 3.62X and a P/CF of 55.51X.
The Oil and Gas - Refining and Marketing industry is in the top 2% of all the industries we have in our universe, so it looks like there are some nice tailwinds for PSX and PBF, even beyond their own solid fundamental situation.