Phillips 66 (PSX) closed the most recent trading day at $179.00, moving -2.41% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.26%. Elsewhere, the Dow saw an upswing of 0.17%, while the tech-heavy Nasdaq depreciated by 0.97%.
The oil refiner's stock has climbed by 4.6% in the past month, exceeding the Oils-Energy sector's gain of 0.73% and the S&P 500's gain of 0.23%.
The upcoming earnings release of Phillips 66 will be of great interest to investors. It is anticipated that the company will report an EPS of $5.83, marking a 144.96% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $35.36 billion, up 5.49% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.64 per share and revenue of $140.94 billion. These totals would mark changes of +173.91% and +3.21%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Phillips 66. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.41% higher. Phillips 66 presently features a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Phillips 66 is currently exchanging hands at a Forward P/E ratio of 10.4. This expresses a premium compared to the average Forward P/E of 9.76 of its industry.
We can also see that PSX currently has a PEG ratio of 0.27. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Refining and Marketing industry stood at 0.38 at the close of the market yesterday.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 20, this industry ranks in the top 9% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).