Yahoo Finance Phillips 66 (PSX) Stock Declines While Market Improves: Some Information for Investors
In the latest market close, Phillips 66 (PSX) reached $139.40, with a -0.27% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.09%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.3%.
Shares of the oil refiner witnessed a gain of 1.15% over the previous month, beating the performance of the Oils-Energy sector with its loss of 1.6% and underperforming the S&P 500's gain of 3.38%.
Market participants will be closely following the financial results of Phillips 66 in its upcoming release. The company plans to announce its earnings on July 30, 2024. The company is forecasted to report an EPS of $3.09, showcasing a 20.16% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $31.97 billion, showing a 10.55% drop compared to the year-ago quarter.
PSX's full-year Zacks Consensus Estimates are calling for earnings of $11.22 per share and revenue of $132.97 billion. These results would represent year-over-year changes of -29.03% and -11.29%, 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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 past month, there's been an 8.5% fall in the Zacks Consensus EPS estimate. Currently, Phillips 66 is carrying a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 12.46. This expresses no noticeable deviation compared to the average Forward P/E of 12.46 of its industry.
Meanwhile, PSX's PEG ratio is currently 2.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Refining and Marketing was holding an average PEG ratio of 1.65 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 147, finds itself in the bottom 42% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Phillips 66 (PSX) : Free Stock Analysis Report
