Yahoo Finance Phillips 66 (PSX) Stock Moves -0.05%: What You Should Know
In the latest trading session, Phillips 66 (PSX) closed at $99.27, marking a -0.05% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.38%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 10.47%.
Prior to today's trading, shares of the oil refiner had gained 0.55% over the past month. This has lagged the Oils-Energy sector's gain of 7.91% and the S&P 500's gain of 2.61% in that time.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. This is expected to be May 3, 2023. In that report, analysts expect Phillips 66 to post earnings of $3.66 per share. This would mark year-over-year growth of 177.27%. Our most recent consensus estimate is calling for quarterly revenue of $30.94 billion, down 15.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.93 per share and revenue of $128.84 billion, which would represent changes of -15.22% and -26.67%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Phillips 66. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.61% higher. Phillips 66 currently has a Zacks Rank of #3 (Hold).
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 6.24. This represents a no noticeable deviation compared to its industry's average Forward P/E of 6.24.
Meanwhile, PSX's PEG ratio is currently 0.33. 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 industry currently had an average PEG ratio of 0.79 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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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Phillips 66 (PSX) : Free Stock Analysis Report
