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Phillips 66 (PSX) Beats Stock Market Upswing: What Investors Need to Know
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In the latest market close, Phillips 66 (PSX - Free Report) reached $115.98, with a +1.8% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.86%, and the tech-heavy Nasdaq lost 0.38%.
The oil refiner's shares have seen a decrease of 7.16% over the last month, surpassing the Oils-Energy sector's loss of 9.81% and falling behind the S&P 500's loss of 2.2%.
Market participants will be closely following the financial results of Phillips 66 in its upcoming release. The company plans to announce its earnings on January 31, 2025. In that report, analysts expect Phillips 66 to post earnings of $0.81 per share. This would mark a year-over-year decline of 73.79%. Meanwhile, our latest consensus estimate is calling for revenue of $31.99 billion, down 17.41% from the prior-year quarter.
Investors should also pay attention to any latest changes in analyst estimates for Phillips 66. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.42% decrease. As of now, Phillips 66 holds a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 13.01. For comparison, its industry has an average Forward P/E of 14.69, which means Phillips 66 is trading at a discount to the group.
It is also worth noting that PSX currently has a PEG ratio of 3.25. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 2.39 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Phillips 66 (PSX) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, Phillips 66 (PSX - Free Report) reached $115.98, with a +1.8% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.86%, and the tech-heavy Nasdaq lost 0.38%.
The oil refiner's shares have seen a decrease of 7.16% over the last month, surpassing the Oils-Energy sector's loss of 9.81% and falling behind the S&P 500's loss of 2.2%.
Market participants will be closely following the financial results of Phillips 66 in its upcoming release. The company plans to announce its earnings on January 31, 2025. In that report, analysts expect Phillips 66 to post earnings of $0.81 per share. This would mark a year-over-year decline of 73.79%. Meanwhile, our latest consensus estimate is calling for revenue of $31.99 billion, down 17.41% from the prior-year quarter.
Investors should also pay attention to any latest changes in analyst estimates for Phillips 66. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.42% decrease. As of now, Phillips 66 holds a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 13.01. For comparison, its industry has an average Forward P/E of 14.69, which means Phillips 66 is trading at a discount to the group.
It is also worth noting that PSX currently has a PEG ratio of 3.25. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 2.39 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.