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Phillips 66 (PSX) Stock Declines While Market Improves: Some Information for Investors
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The latest trading session saw Phillips 66 (PSX - Free Report) ending at $134.70, denoting a -0.75% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.14%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 0.16%.
Shares of the oil refiner have appreciated by 15.02% over the course of the past month, outperforming the Oils-Energy sector's gain of 2.24% and the S&P 500's gain of 4.89%.
The investment community will be closely monitoring the performance of Phillips 66 in its forthcoming earnings report. The company is scheduled to release its earnings on January 31, 2024. The company is predicted to post an EPS of $2.67, indicating a 33.25% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $34.76 billion, down 15.02% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $15.39 per share and a revenue of $145.41 billion, representing changes of -18.09% and -17.24%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Phillips 66. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.38% fall in the Zacks Consensus EPS estimate. At present, Phillips 66 boasts a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 8.82. Its industry sports an average Forward P/E of 7, so one might conclude that Phillips 66 is trading at a premium comparatively.
We can additionally observe that PSX currently boasts a PEG ratio of 0.47. 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 1.03 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 strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Phillips 66 (PSX) Stock Declines While Market Improves: Some Information for Investors
The latest trading session saw Phillips 66 (PSX - Free Report) ending at $134.70, denoting a -0.75% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.14%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 0.16%.
Shares of the oil refiner have appreciated by 15.02% over the course of the past month, outperforming the Oils-Energy sector's gain of 2.24% and the S&P 500's gain of 4.89%.
The investment community will be closely monitoring the performance of Phillips 66 in its forthcoming earnings report. The company is scheduled to release its earnings on January 31, 2024. The company is predicted to post an EPS of $2.67, indicating a 33.25% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $34.76 billion, down 15.02% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $15.39 per share and a revenue of $145.41 billion, representing changes of -18.09% and -17.24%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Phillips 66. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.38% fall in the Zacks Consensus EPS estimate. At present, Phillips 66 boasts a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 8.82. Its industry sports an average Forward P/E of 7, so one might conclude that Phillips 66 is trading at a premium comparatively.
We can additionally observe that PSX currently boasts a PEG ratio of 0.47. 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 1.03 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 strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.