Phillips 66 (PSX) closed the most recent trading day at $103.08, moving -1.03% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.44%. At the same time, the Dow lost 1.03%, and the tech-heavy Nasdaq lost 0.2%.
Prior to today's trading, shares of the oil refiner had lost 1.21% over the past month. This has was narrower than the Oils-Energy sector's loss of 2.49% and lagged the S&P 500's gain of 6.22% in that time.
Phillips 66 will be looking to display strength as it nears its next earnings release. In that report, analysts expect Phillips 66 to post earnings of $5.17 per share. This would mark year-over-year growth of 75.85%. Our most recent consensus estimate is calling for quarterly revenue of $40.97 billion, up 22.04% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $20.27 per share and revenue of $172.66 billion. These totals would mark changes of +255.61% and +50.33%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Phillips 66. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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. Within the past 30 days, our consensus EPS projection has moved 10.02% higher. Phillips 66 is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Phillips 66's current valuation metrics, including its Forward P/E ratio of 5.14. This represents a no noticeable deviation compared to its industry's average Forward P/E of 5.14.
Investors should also note that PSX has a PEG ratio of 0.29 right now. 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. The Oil and Gas - Refining and Marketing industry currently had an average PEG ratio of 0.46 as of yesterday's close.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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