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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

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Phillips 66 (PSX) is a Top-Ranked Growth Stock: Should You Buy?

Zacks Equity Research
·2 min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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Phillips 66 (PSX)

Based in Houston, TX, Phillips 66's operations incorporate refining, midstream, marketing and specialties, and chemicals. The company, in its current form, came into existence following the 2012 spin-off of ConocoPhillips' downstream business into a separate, independent and publicly-traded entity. The company’s operations include processing, transportation, storing and marketing fuels and products all over the world. Phillips 66 Partners, the company's master limited partnership, is an important asset in the portfolio. The company operates through the four business segments, namely, Midstream, Chemicals, Refining, and Marketing and Specialties.

PSX sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of A, and has a VGM Score of A. Earnings and sales are forecasted to increase 177% and 35.2% year-over-year, respectively.

Three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $3.60 to $15.79 per share for 2022. PSX boasts an average earnings surprise of 36.4%.

Looking at cash flow, Phillips 66 is expected to report cash flow growth of 301% this year; PSX has generated cash flow growth of 9.1% over the past three to five years.

PSX should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.


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Zacks Investment Research