Phillips 66 (PSX) closed at $93.36 in the latest trading session, marking a +0.81% move from the prior day. This move outpaced the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.37%.
Coming into today, shares of the oil refiner had gained 7.29% in the past month. In that same time, the Oils-Energy sector 0%, while the S&P 500 lost 3.51%.
Wall Street will be looking for positivity from Phillips 66 as it approaches its next earnings report date. This is expected to be November 1, 2022. The company is expected to report EPS of $4.98, up 56.6% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $35.89 billion, up 14.05% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.31 per share and revenue of $155.03 billion. These totals would mark changes of +186.14% and +34.99%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Phillips 66. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.75% higher. Phillips 66 currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Phillips 66 currently has a Forward P/E ratio of 5.68. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 5.68.
It is also worth noting that PSX currently has a PEG ratio of 0.46. 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. Oil and Gas - Refining and Marketing stocks are, on average, holding a PEG ratio of 0.46 based on yesterday's closing prices.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 5, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
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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