Yahoo Finance Phillips 66 (PSX) Stock Moves -0.4%: What You Should Know
Phillips 66 (PSX) closed at $106.03 in the latest trading session, marking a -0.4% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 4.08%.
Prior to today's trading, shares of the oil refiner had gained 8.69% over the past month. This has outpaced the Oils-Energy sector's gain of 3.28% and the S&P 500's gain of 6.51% 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. On that day, Phillips 66 is projected to report earnings of $3.74 per share, which would represent year-over-year growth of 183.33%. Meanwhile, our latest consensus estimate is calling for revenue of $32.32 billion, down 11.99% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.96 per share and revenue of $132.93 billion, which would represent changes of -15.06% and -24.35%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Phillips 66. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.5% higher. Phillips 66 is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Phillips 66 has a Forward P/E ratio of 6.67 right now. For comparison, its industry has an average Forward P/E of 6.67, which means Phillips 66 is trading at a no noticeable deviation to the group.
We can also see that PSX currently has a PEG ratio of 0.36. 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. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.77 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
