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Phillips 66 (PSX) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Phillips 66 (PSX - Free Report) closed at $86.67, marking a +0.83% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.81%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 0.61%.
Prior to today's trading, shares of the oil refiner had gained 1.97% over the past month. This has lagged the Oils-Energy sector's gain of 8.66% and the S&P 500's gain of 5.64% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release, which is expected to be April 29, 2022. In that report, analysts expect Phillips 66 to post earnings of $1.80 per share. This would mark year-over-year growth of 255.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $28.82 billion, up 31.46% from the year-ago period.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $7.83 per share and revenue of $120.24 billion. These results would represent year-over-year changes of +37.37% and +4.69%, respectively.
It is also important to note the recent changes to analyst estimates for Phillips 66. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.32% higher within the past month. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 10.98. This valuation marks a discount compared to its industry's average Forward P/E of 17.61.
We can also see that PSX currently has a PEG ratio of 0.97. 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 1.24 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 64, putting it in the top 26% 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.
To follow PSX in the coming trading sessions, be sure to utilize Zacks.com.
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Phillips 66 (PSX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Phillips 66 (PSX - Free Report) closed at $86.67, marking a +0.83% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.81%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 0.61%.
Prior to today's trading, shares of the oil refiner had gained 1.97% over the past month. This has lagged the Oils-Energy sector's gain of 8.66% and the S&P 500's gain of 5.64% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release, which is expected to be April 29, 2022. In that report, analysts expect Phillips 66 to post earnings of $1.80 per share. This would mark year-over-year growth of 255.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $28.82 billion, up 31.46% from the year-ago period.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $7.83 per share and revenue of $120.24 billion. These results would represent year-over-year changes of +37.37% and +4.69%, respectively.
It is also important to note the recent changes to analyst estimates for Phillips 66. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.32% higher within the past month. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 10.98. This valuation marks a discount compared to its industry's average Forward P/E of 17.61.
We can also see that PSX currently has a PEG ratio of 0.97. 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 1.24 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 64, putting it in the top 26% 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.
To follow PSX in the coming trading sessions, be sure to utilize Zacks.com.