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Phillips 66 (PSX) Stock Declines While Market Improves: Some Information for Investors
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The most recent trading session ended with Phillips 66 (PSX - Free Report) standing at $142.21, reflecting a -0.21% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. Meanwhile, the Dow experienced a rise of 1.64%, and the technology-dominated Nasdaq saw an increase of 1.03%.
Heading into today, shares of the oil refiner had gained 2.23% over the past month, outpacing the Oils-Energy sector's loss of 10.8% and the S&P 500's loss of 1.16% in that time.
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 July 30, 2024. The company is forecasted to report an EPS of $3.10, showcasing a 19.9% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $32.01 billion, reflecting a 10.44% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.06 per share and a revenue of $133.01 billion, indicating changes of -36.37% and -11.26%, respectively, from the former 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 10.37% downward. Right now, Phillips 66 possesses a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Phillips 66 is at present trading with a Forward P/E ratio of 14.17. Its industry sports an average Forward P/E of 14.86, so one might conclude that Phillips 66 is trading at a discount comparatively.
We can additionally observe that PSX currently boasts a PEG ratio of 2.36. 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. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 2.16.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 219, finds itself in the bottom 14% echelons 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.
To follow PSX in the coming trading sessions, be sure to utilize Zacks.com.
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Phillips 66 (PSX) Stock Declines While Market Improves: Some Information for Investors
The most recent trading session ended with Phillips 66 (PSX - Free Report) standing at $142.21, reflecting a -0.21% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. Meanwhile, the Dow experienced a rise of 1.64%, and the technology-dominated Nasdaq saw an increase of 1.03%.
Heading into today, shares of the oil refiner had gained 2.23% over the past month, outpacing the Oils-Energy sector's loss of 10.8% and the S&P 500's loss of 1.16% in that time.
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 July 30, 2024. The company is forecasted to report an EPS of $3.10, showcasing a 19.9% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $32.01 billion, reflecting a 10.44% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.06 per share and a revenue of $133.01 billion, indicating changes of -36.37% and -11.26%, respectively, from the former 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 10.37% downward. Right now, Phillips 66 possesses a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Phillips 66 is at present trading with a Forward P/E ratio of 14.17. Its industry sports an average Forward P/E of 14.86, so one might conclude that Phillips 66 is trading at a discount comparatively.
We can additionally observe that PSX currently boasts a PEG ratio of 2.36. 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. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 2.16.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 219, finds itself in the bottom 14% echelons 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.
To follow PSX in the coming trading sessions, be sure to utilize Zacks.com.