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Phillips 66 (PSX) Stock Moves -0.3%: What You Should Know

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Phillips 66 (PSX - Free Report) closed at $81.76 in the latest trading session, marking a -0.3% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.15%. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 0.34%.

Coming into today, shares of the oil refiner had lost 22.86% in the past month. In that same time, the Oils-Energy sector lost 19.33%, while the S&P 500 lost 5.08%.

Investors will be hoping for strength from Phillips 66 as it approaches its next earnings release, which is expected to be July 29, 2022. The company is expected to report EPS of $4.79, up 547.3% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $33.68 billion, up 20.77% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.41 per share and revenue of $136.13 billion. These totals would mark changes of +135.26% and +18.53%, 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 9.99% higher. Phillips 66 is currently a Zacks Rank #1 (Strong Buy).

Looking at its valuation, Phillips 66 is holding a Forward P/E ratio of 6.12. For comparison, its industry has an average Forward P/E of 6.12, which means Phillips 66 is trading at a no noticeable deviation to the group.

Investors should also note that PSX has a PEG ratio of 0.53 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.53 as of yesterday's close.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% 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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