Phillips 66 (PSX) ended the recent trading session at $130.31, demonstrating a +1.57% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.31%.
The oil refiner's stock has dropped by 3.09% in the past month, falling short of the Oils-Energy sector's loss of 2.45% and the S&P 500's gain of 1.57%.
Investors will be eagerly watching for the performance of Phillips 66 in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 29, 2024. The company is forecasted to report an EPS of $2.37, showcasing a 48.81% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $32.13 billion, reflecting a 20.31% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.75 per share and a revenue of $139.22 billion, indicating changes of -44.66% and -7.12%, respectively, from the former year.
Any recent changes to analyst estimates for Phillips 66 should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 7.89% downward. Phillips 66 is currently a Zacks Rank #3 (Hold).
In terms of valuation, Phillips 66 is presently being traded at a Forward P/E ratio of 14.67. This indicates a premium in contrast to its industry's Forward P/E of 14.03.
One should further note that PSX currently holds a PEG ratio of 4.89. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Refining and Marketing industry had an average PEG ratio of 2.86 as trading concluded yesterday.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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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