Phillips 66 (PSX) closed the most recent trading day at $143.81, moving +2.81% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.68% for the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 0.33%.
Coming into today, shares of the oil refiner had lost 0.69% in the past month. In that same time, the Oils-Energy sector gained 0.84%, while the S&P 500 gained 1.8%.
Analysts and investors alike will be keeping a close eye on the performance of Phillips 66 in its upcoming earnings disclosure. In that report, analysts expect Phillips 66 to post earnings of $2.3 per share. This would mark year-over-year growth of 1633.33%. In the meantime, our current consensus estimate forecasts the revenue to be $30.11 billion, indicating a 11.41% decline compared to the corresponding quarter of the prior year.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $6.23 per share and revenue of $130.33 billion. These results would represent year-over-year changes of +1.3% and -10.42%, respectively.
Investors might also notice recent changes to analyst estimates for Phillips 66. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Within the past 30 days, our consensus EPS projection has moved 10.14% higher. Currently, Phillips 66 is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Phillips 66 is presently trading at a Forward P/E ratio of 22.44. This valuation marks a premium compared to its industry average Forward P/E of 14.26.
We can additionally observe that PSX currently boasts a PEG ratio of 0.73. 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. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.98 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 76, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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