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Phillips 66 (PSX) Stock Sinks As Market Gains: What You Should Know
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Phillips 66 (PSX - Free Report) closed the most recent trading day at $123.17, moving -0.89% from the previous trading session. This change lagged the S&P 500's 0.12% gain on the day. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq added 0.29%.
Prior to today's trading, shares of the oil refiner had gained 9.57% over the past month. This has outpaced the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release. On that day, Phillips 66 is projected to report earnings of $4.57 per share, which would represent a year-over-year decline of 29.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.13 billion, down 30.01% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.63 per share and revenue of $138.28 billion, which would represent changes of -16.82% and -21.3%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Phillips 66. These recent revisions tend to reflect the evolving nature of short-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 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 5.81% higher within the past month. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Phillips 66 has a Forward P/E ratio of 7.95 right now. For comparison, its industry has an average Forward P/E of 7.5, which means Phillips 66 is trading at a premium to the group.
Meanwhile, PSX's PEG ratio is currently 0.42. 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 industry currently had an average PEG ratio of 1.05 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% 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) Stock Sinks As Market Gains: What You Should Know
Phillips 66 (PSX - Free Report) closed the most recent trading day at $123.17, moving -0.89% from the previous trading session. This change lagged the S&P 500's 0.12% gain on the day. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq added 0.29%.
Prior to today's trading, shares of the oil refiner had gained 9.57% over the past month. This has outpaced the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release. On that day, Phillips 66 is projected to report earnings of $4.57 per share, which would represent a year-over-year decline of 29.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.13 billion, down 30.01% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.63 per share and revenue of $138.28 billion, which would represent changes of -16.82% and -21.3%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Phillips 66. These recent revisions tend to reflect the evolving nature of short-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 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 5.81% higher within the past month. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Phillips 66 has a Forward P/E ratio of 7.95 right now. For comparison, its industry has an average Forward P/E of 7.5, which means Phillips 66 is trading at a premium to the group.
Meanwhile, PSX's PEG ratio is currently 0.42. 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 industry currently had an average PEG ratio of 1.05 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% 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.