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Phillips 66 (PSX) Rises Higher Than Market: Key Facts
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In the latest trading session, Phillips 66 (PSX - Free Report) closed at $158.96, marking a +1.51% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.86% for the day. Meanwhile, the Dow experienced a rise of 1.22%, and the technology-dominated Nasdaq saw an increase of 0.51%.
Coming into today, shares of the oil refiner had gained 7.75% in the past month. In that same time, the Oils-Energy sector gained 5.4%, while the S&P 500 gained 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of Phillips 66 in its upcoming earnings disclosure. The company's earnings report is set to go public on April 26, 2024. The company is forecasted to report an EPS of $2.60, showcasing a 38.24% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $31.68 billion, indicating a 9.73% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.55 per share and revenue of $133.87 billion. These totals would mark changes of -20.62% and -10.69%, respectively, from last year.
It's also important for investors to be aware of any recent modifications 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has moved 3.87% lower. Phillips 66 is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 12.47. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 12.47.
It is also worth noting that PSX currently has a PEG ratio of 2.08. 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. PSX's industry had an average PEG ratio of 1.93 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Phillips 66 (PSX) Rises Higher Than Market: Key Facts
In the latest trading session, Phillips 66 (PSX - Free Report) closed at $158.96, marking a +1.51% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.86% for the day. Meanwhile, the Dow experienced a rise of 1.22%, and the technology-dominated Nasdaq saw an increase of 0.51%.
Coming into today, shares of the oil refiner had gained 7.75% in the past month. In that same time, the Oils-Energy sector gained 5.4%, while the S&P 500 gained 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of Phillips 66 in its upcoming earnings disclosure. The company's earnings report is set to go public on April 26, 2024. The company is forecasted to report an EPS of $2.60, showcasing a 38.24% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $31.68 billion, indicating a 9.73% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $12.55 per share and revenue of $133.87 billion. These totals would mark changes of -20.62% and -10.69%, respectively, from last year.
It's also important for investors to be aware of any recent modifications 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has moved 3.87% lower. Phillips 66 is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 12.47. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 12.47.
It is also worth noting that PSX currently has a PEG ratio of 2.08. 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. PSX's industry had an average PEG ratio of 1.93 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.