Phillips 66 (PSX) Stock Moves -0.9%: What You Should Know
Phillips 66 (PSX) closed at $94.69 in the latest trading session, marking a -0.9% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.65%. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 6.65%.
Coming into today, shares of the oil refiner had lost 4.11% in the past month. In that same time, the Oils-Energy sector lost 4.55%, while the S&P 500 gained 0.3%.
Phillips 66 will be looking to display strength as it nears its next earnings release, which is expected to be May 3, 2023. The company is expected to report EPS of $3.73, up 182.58% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $35.08 billion, down 4.47% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.68 per share and revenue of $144.79 billion. These totals would mark changes of -16.55% and -17.59%, respectively, from last year.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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.
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. Within the past 30 days, our consensus EPS projection has moved 2.82% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 6.09. This valuation marks a discount compared to its industry's average Forward P/E of 6.45.
Investors should also note that PSX has a PEG ratio of 0.32 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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