Phillips 66 (PSX) Stock Moves -0.06%: What You Should Know
In the latest trading session, Phillips 66 (PSX) closed at $154.38, marking a -0.06% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.29%. Elsewhere, the Dow lost 0.35%, while the tech-heavy Nasdaq lost 0.3%.
Shares of the oil refiner witnessed a gain of 6.38% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 6.58% and outperforming the S&P 500's gain of 4.42%.
Investors will be eagerly watching for the performance of Phillips 66 in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.69, reflecting a 36.1% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $31.71 billion, showing a 9.64% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.09 per share and revenue of $133.96 billion. These totals would mark changes of -17.2% and -10.63%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Phillips 66. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.74% lower. As of now, Phillips 66 holds a Zacks Rank of #3 (Hold).
In the context of valuation, Phillips 66 is at present trading with a Forward P/E ratio of 11.81. For comparison, its industry has an average Forward P/E of 11.81, which means Phillips 66 is trading at no noticeable deviation to the group.
One should further note that PSX currently holds a PEG ratio of 1.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Oil and Gas - Refining and Marketing industry stood at 1.85 at the close of the market yesterday.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 32% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Phillips 66 (PSX) : Free Stock Analysis Report
