We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Phillips 66 (PSX) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Phillips 66 (PSX - Free Report) closed at $102.38, marking a -1.68% move from the previous day. This change lagged the S&P 500's 1.46% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq lost 0.17%.
Coming into today, shares of the oil refiner had gained 6.56% in the past month. In that same time, the Oils-Energy sector gained 2.86%, while the S&P 500 lost 6.94%.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. On that day, Phillips 66 is projected to report earnings of $4.05 per share, which would represent year-over-year growth of 447.3%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.62 billion, up 20.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.19 per share and revenue of $135.95 billion. These totals would mark changes of +113.86% and +18.37%, respectively, from last year.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 32.56% higher. Phillips 66 is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Phillips 66 has a Forward P/E ratio of 8.54 right now. Its industry sports an average Forward P/E of 9.77, so we one might conclude that Phillips 66 is trading at a discount comparatively.
Meanwhile, PSX's PEG ratio is currently 0.74. 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 was holding an average PEG ratio of 0.71 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 12, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Phillips 66 (PSX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Phillips 66 (PSX - Free Report) closed at $102.38, marking a -1.68% move from the previous day. This change lagged the S&P 500's 1.46% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq lost 0.17%.
Coming into today, shares of the oil refiner had gained 6.56% in the past month. In that same time, the Oils-Energy sector gained 2.86%, while the S&P 500 lost 6.94%.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. On that day, Phillips 66 is projected to report earnings of $4.05 per share, which would represent year-over-year growth of 447.3%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.62 billion, up 20.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.19 per share and revenue of $135.95 billion. These totals would mark changes of +113.86% and +18.37%, respectively, from last year.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 32.56% higher. Phillips 66 is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Phillips 66 has a Forward P/E ratio of 8.54 right now. Its industry sports an average Forward P/E of 9.77, so we one might conclude that Phillips 66 is trading at a discount comparatively.
Meanwhile, PSX's PEG ratio is currently 0.74. 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 was holding an average PEG ratio of 0.71 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 12, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.