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Phillips 66 (PSX) Stock Moves -0.11%: What You Should Know
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Phillips 66 (PSX - Free Report) closed the most recent trading day at $119.94, moving -0.11% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.64%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Prior to today's trading, shares of the oil refiner had gained 6.96% over the past month. This has outpaced the Oils-Energy sector's gain of 3.68% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Phillips 66 as it approaches its next earnings release, which is expected to be October 27, 2023. On that day, Phillips 66 is projected to report earnings of $4.61 per share, which would represent a year-over-year decline of 28.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.17 billion, down 29.92% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.82 per share and revenue of $138.36 billion. These totals would mark changes of -15.81% and -21.26%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Phillips 66. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 5.08% higher within the past month. Phillips 66 currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Phillips 66 is holding a Forward P/E ratio of 7.59. For comparison, its industry has an average Forward P/E of 7.09, which means Phillips 66 is trading at a premium to the group.
It is also worth noting that PSX currently has a PEG ratio of 0.4. 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 1.03 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 83, putting 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 Moves -0.11%: What You Should Know
Phillips 66 (PSX - Free Report) closed the most recent trading day at $119.94, moving -0.11% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.64%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Prior to today's trading, shares of the oil refiner had gained 6.96% over the past month. This has outpaced the Oils-Energy sector's gain of 3.68% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Phillips 66 as it approaches its next earnings release, which is expected to be October 27, 2023. On that day, Phillips 66 is projected to report earnings of $4.61 per share, which would represent a year-over-year decline of 28.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.17 billion, down 29.92% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.82 per share and revenue of $138.36 billion. These totals would mark changes of -15.81% and -21.26%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Phillips 66. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 5.08% higher within the past month. Phillips 66 currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Phillips 66 is holding a Forward P/E ratio of 7.59. For comparison, its industry has an average Forward P/E of 7.09, which means Phillips 66 is trading at a premium to the group.
It is also worth noting that PSX currently has a PEG ratio of 0.4. 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 1.03 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 83, putting 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.