Phillips 66 (PSX) Stock Moves -1.8%: What You Should Know
In the latest trading session, Phillips 66 (PSX) closed at $108.27, marking a -1.8% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.38%. At the same time, the Dow lost 1.94%, and the tech-heavy Nasdaq lost 0.64%.
Heading into today, shares of the oil refiner had gained 20.89% over the past month, outpacing the Oils-Energy sector's gain of 10.37% and the S&P 500's loss of 0.07% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $4.05, up 447.3% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $33.62 billion, up 20.56% from the prior-year quarter.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $12.19 per share and revenue of $135.95 billion. These results would represent year-over-year changes of +113.86% and +18.37%, respectively.
Investors might also notice recent changes to analyst estimates for Phillips 66. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 32.56% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Phillips 66 is holding a Forward P/E ratio of 9.04. For comparison, its industry has an average Forward P/E of 10.3, which means Phillips 66 is trading at a discount to the group.
Meanwhile, PSX's PEG ratio is currently 0.78. 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. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.78 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 5, putting it in the top 2% 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.
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