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Phillips 66 (PSX) Gains As Market Dips: What You Should Know
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Phillips 66 (PSX - Free Report) closed the most recent trading day at $80.27, moving +0.6% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.29%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the oil refiner had lost 5.12% over the past month, lagging the Oils-Energy sector's gain of 9.54% and the S&P 500's gain of 5.04% 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. In that report, analysts expect Phillips 66 to post earnings of $1.84 per share. This would mark year-over-year growth of 258.62%. Our most recent consensus estimate is calling for quarterly revenue of $28.82 billion, up 31.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.91 per share and revenue of $120.24 billion, which would represent changes of +38.77% and +4.69%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Phillips 66. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 1.35% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 10.09. This valuation marks a discount compared to its industry's average Forward P/E of 16.8.
Also, we should mention that PSX has a PEG ratio of 0.9. 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 0.9 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 71, putting it in the top 28% 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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Phillips 66 (PSX) Gains As Market Dips: What You Should Know
Phillips 66 (PSX - Free Report) closed the most recent trading day at $80.27, moving +0.6% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.29%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the oil refiner had lost 5.12% over the past month, lagging the Oils-Energy sector's gain of 9.54% and the S&P 500's gain of 5.04% 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. In that report, analysts expect Phillips 66 to post earnings of $1.84 per share. This would mark year-over-year growth of 258.62%. Our most recent consensus estimate is calling for quarterly revenue of $28.82 billion, up 31.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.91 per share and revenue of $120.24 billion, which would represent changes of +38.77% and +4.69%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Phillips 66. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 1.35% higher. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 10.09. This valuation marks a discount compared to its industry's average Forward P/E of 16.8.
Also, we should mention that PSX has a PEG ratio of 0.9. 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 0.9 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 71, putting it in the top 28% 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.