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Phillips 66 (PSX) Ascends While Market Falls: Some Facts to Note

Phillips 66 (PSX) closed at $138.09 in the latest trading session, marking a +0.09% move from the prior day. This change outpaced the S&P 500's 0.16% loss on the day. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq decreased by 0.18%.

Prior to today's trading, shares of the oil refiner had lost 2.97% over the past month. This has was narrower than the Oils-Energy sector's loss of 3.96% and lagged the S&P 500's gain of 3.15% 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 July 30, 2024. In that report, analysts expect Phillips 66 to post earnings of $3.26 per share. This would mark a year-over-year decline of 15.76%. At the same time, our most recent consensus estimate is projecting a revenue of $32.03 billion, reflecting a 10.37% fall from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.80 per share and revenue of $133.08 billion. These totals would mark changes of -25.36% and -11.21%, respectively, from last year.

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Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Phillips 66. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

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. The Zacks Consensus EPS estimate has moved 3.81% lower within the past month. Phillips 66 is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Phillips 66 is presently being traded at a Forward P/E ratio of 11.7. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 11.7.

It's also important to note that PSX currently trades at a PEG ratio of 1.95. 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. By the end of yesterday's trading, the Oil and Gas - Refining and Marketing industry had an average PEG ratio of 1.67.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 103, positioning it in the top 41% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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Phillips 66 (PSX) : Free Stock Analysis Report

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