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Phillips 66 (PSX) Ascends But Remains Behind Market: Some Facts to Note
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Phillips 66 (PSX - Free Report) ended the recent trading session at $170.75, demonstrating a +0.04% swing from the preceding day's closing price. This change lagged the S&P 500's 1.11% gain on the day. Elsewhere, the Dow saw an upswing of 0.8%, while the tech-heavy Nasdaq appreciated by 1.24%.
Prior to today's trading, shares of the oil refiner had gained 14.39% over the past month. This has outpaced the Oils-Energy sector's gain of 10.33% and the S&P 500's gain of 0.48% in that time.
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 April 26, 2024. It is anticipated that the company will report an EPS of $2.64, marking a 37.29% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $31.68 billion, showing a 9.72% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13 per share and revenue of $133.89 billion, which would represent changes of -17.77% and -10.67%, respectively, from the prior 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.47% lower. Phillips 66 currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 13.13. This denotes a discount relative to the industry's average Forward P/E of 13.15.
It's also important to note that PSX currently trades at a PEG ratio of 2.19. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. PSX's industry had an average PEG ratio of 1.99 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 39, this industry ranks in the top 16% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Phillips 66 (PSX) Ascends But Remains Behind Market: Some Facts to Note
Phillips 66 (PSX - Free Report) ended the recent trading session at $170.75, demonstrating a +0.04% swing from the preceding day's closing price. This change lagged the S&P 500's 1.11% gain on the day. Elsewhere, the Dow saw an upswing of 0.8%, while the tech-heavy Nasdaq appreciated by 1.24%.
Prior to today's trading, shares of the oil refiner had gained 14.39% over the past month. This has outpaced the Oils-Energy sector's gain of 10.33% and the S&P 500's gain of 0.48% in that time.
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 April 26, 2024. It is anticipated that the company will report an EPS of $2.64, marking a 37.29% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $31.68 billion, showing a 9.72% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13 per share and revenue of $133.89 billion, which would represent changes of -17.77% and -10.67%, respectively, from the prior 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.47% lower. Phillips 66 currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is currently trading at a Forward P/E ratio of 13.13. This denotes a discount relative to the industry's average Forward P/E of 13.15.
It's also important to note that PSX currently trades at a PEG ratio of 2.19. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. PSX's industry had an average PEG ratio of 1.99 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 39, this industry ranks in the top 16% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.