How Phillips 66 (PSX) Stock Stands Out in a Strong Industry
One stock that might be an intriguing choice for investors right now is Phillips 66 PSX. This is because this security in the Oil and Gas - Refining and Marketing space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Oil and Gas - Refining and Marketing space as it currently has a Zacks Industry Rank of 39 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Phillips 66 is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Phillips 66 Price and Consensus
Phillips 66 price-consensus-chart | Phillips 66 Quote
In fact, over the past month, current quarter estimates have risen from $2.35 per share to $2.61 per share, while current year estimates have risen from $7.17 per share to $7.46 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider Phillips 66. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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