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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 at $122.97 in the latest trading session, marking a -0.16% move from the prior day. This change lagged the S&P 500's daily gain of 0.84%. At the same time, the Dow added 0.96%, and the tech-heavy Nasdaq gained 0.81%.
Heading into today, shares of the oil refiner had gained 8.74% over the past month, outpacing the Oils-Energy sector's gain of 2.52% and the S&P 500's gain of 0.19% in that time.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. In that report, analysts expect Phillips 66 to post earnings of $4.57 per share. This would mark a year-over-year decline of 29.26%. Meanwhile, our latest consensus estimate is calling for revenue of $34.13 billion, down 30.01% from the prior-year quarter.
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.
It is also important to note the 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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).
Looking at its valuation, Phillips 66 is holding a Forward P/E ratio of 7.88. For comparison, its industry has an average Forward P/E of 7.38, which means Phillips 66 is trading at a premium to the group.
Investors should also note that PSX has a PEG ratio of 0.42 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company'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 79, which puts it in the top 32% 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 at $122.97 in the latest trading session, marking a -0.16% move from the prior day. This change lagged the S&P 500's daily gain of 0.84%. At the same time, the Dow added 0.96%, and the tech-heavy Nasdaq gained 0.81%.
Heading into today, shares of the oil refiner had gained 8.74% over the past month, outpacing the Oils-Energy sector's gain of 2.52% and the S&P 500's gain of 0.19% in that time.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. In that report, analysts expect Phillips 66 to post earnings of $4.57 per share. This would mark a year-over-year decline of 29.26%. Meanwhile, our latest consensus estimate is calling for revenue of $34.13 billion, down 30.01% from the prior-year quarter.
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.
It is also important to note the 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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).
Looking at its valuation, Phillips 66 is holding a Forward P/E ratio of 7.88. For comparison, its industry has an average Forward P/E of 7.38, which means Phillips 66 is trading at a premium to the group.
Investors should also note that PSX has a PEG ratio of 0.42 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company'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 79, which puts it in the top 32% 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.