Phillips 66 (PSX) Stock Moves -0.35%: What You Should Know
In the latest trading session, Phillips 66 (PSX) closed at $82.85, marking a -0.35% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.21%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.49%.
Heading into today, shares of the oil refiner had gained 8.68% over the past month, outpacing the Oils-Energy sector's gain of 7.07% and the S&P 500's gain of 5.85% in that time.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. This is expected to be April 29, 2022. On that day, Phillips 66 is projected to report earnings of $1.44 per share, which would represent year-over-year growth of 224.14%. Meanwhile, our latest consensus estimate is calling for revenue of $31.47 billion, up 43.52% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.02 per share and revenue of $127.54 billion. These totals would mark changes of +40.7% and +11.05%, respectively, from last year.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. These revisions help to show the ever-changing nature of near-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. 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.
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. The Zacks Consensus EPS estimate has moved 0.84% higher within the past month. Phillips 66 currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Phillips 66 is holding a Forward P/E ratio of 10.37. Its industry sports an average Forward P/E of 18.09, so we one might conclude that Phillips 66 is trading at a discount comparatively.
We can also see that PSX currently has a PEG ratio of 0.92. 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. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 1.17 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 46, putting it in the top 19% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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