In the latest trading session, Phillips 66 (PSX) closed at $130.57, marking a +1.19% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.19%. Elsewhere, the Dow saw an upswing of 0.66%, while the tech-heavy Nasdaq depreciated by 0.03%.
The oil refiner's shares have seen a decrease of 7.45% over the last month, not keeping up with the Oils-Energy sector's loss of 1.05% and the S&P 500's gain of 0.54%.
The upcoming earnings release of Phillips 66 will be of great interest to investors. In that report, analysts expect Phillips 66 to post earnings of $2.24 per share. This would mark year-over-year growth of 1593.33%. Alongside, our most recent consensus estimate is anticipating revenue of $30.09 billion, indicating a 11.46% downward movement from the same quarter last year.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $6.19 per share and revenue of $130.32 billion. These results would represent year-over-year changes of +0.65% and 0%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Phillips 66. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% higher. Phillips 66 presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Phillips 66 is presently trading at a Forward P/E ratio of 10.55. This expresses a discount compared to the average Forward P/E of 11.02 of its industry.
We can additionally observe that PSX currently boasts 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. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 0.93 at yesterday's closing price.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 166, finds itself in the bottom 33% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Phillips 66 (PSX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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