In the latest trading session, Phillips 66 (PSX - Free Report) closed at $91.40, marking a -0.75% move from the previous day. This change was narrower than the S&P 500's 3.24% loss on the day. Elsewhere, the Dow lost 3.1%, while the tech-heavy Nasdaq lost 3.8%.
Heading into today, shares of the oil refiner had lost 6.99% over the past month, lagging the Oils-Energy sector's loss of 0.81% and the S&P 500's gain of 2.73% in that time.
Investors will be hoping for strength from PSX as it approaches its next earnings release, which is expected to be February 1, 2019. The company is expected to report EPS of $1.98, up 85.05% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $31.31 billion, up 3.94% from the year-ago period.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $8.80 per share and revenue of $110.24 billion. These results would represent year-over-year changes of +100.91% and +5.37%, respectively.
It is also important to note the recent changes to analyst estimates for PSX. 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 shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.19% higher. PSX currently has a Zacks Rank of #3 (Hold).
Digging into valuation, PSX currently has a Forward P/E ratio of 10.46. Its industry sports an average Forward P/E of 12.96, so we one might conclude that PSX is trading at a discount comparatively.
It is also worth noting that PSX currently has a PEG ratio of 1.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PSX's industry had an average PEG ratio of 0.96 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PSX in the coming trading sessions, be sure to utilize Zacks.com.