Advertisement
New Zealand markets closed
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5982
    -0.0024 (-0.39%)
     
  • NZD/EUR

    0.5536
    -0.0007 (-0.13%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • OIL

    82.57
    +1.22 (+1.50%)
     
  • GOLD

    2,234.60
    +21.90 (+0.99%)
     
  • NASDAQ

    18,276.55
    -4.29 (-0.02%)
     
  • FTSE

    7,965.49
    +33.51 (+0.42%)
     
  • Dow Jones

    39,775.60
    +15.52 (+0.04%)
     
  • DAX

    18,502.65
    +25.56 (+0.14%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • NZD/JPY

    90.4110
    -0.3690 (-0.41%)
     

Phillips 66 (PSX) Dips More Than Broader Markets: What You Should Know

Phillips 66 (PSX) closed at $101.25 in the latest trading session, marking a -1.76% move from the prior day. This change lagged the S&P 500's 0.6% loss on the day. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 2.87%.

Prior to today's trading, shares of the oil refiner had gained 8.84% over the past month. This has lagged the Oils-Energy sector's gain of 11.36% and outpaced the S&P 500's gain of 6.22% in that time.

Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. This is expected to be May 3, 2023. In that report, analysts expect Phillips 66 to post earnings of $3.67 per share. This would mark year-over-year growth of 178.03%. Our most recent consensus estimate is calling for quarterly revenue of $32.32 billion, down 11.99% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.01 per share and revenue of $132.93 billion. These totals would mark changes of -14.8% and -24.35%, respectively, from last year.

ADVERTISEMENT

Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.11% higher within the past month. Phillips 66 currently has a Zacks Rank of #3 (Hold).

Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 6.44. This represents a no noticeable deviation compared to its industry's average Forward P/E of 6.44.

We can also see that PSX currently has a PEG ratio of 0.34. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PSX's industry had an average PEG ratio of 0.82 as of yesterday's close.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Phillips 66 (PSX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research