Phillips 66 (PSX) closed at $115.19 in the latest trading session, marking a +0.02% move from the prior day. The stock’s change was more than the S&P 500’s daily loss of 1.11%. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq decreased by 1.89%.
Heading into today, shares of the oil refiner had lost 11.46% over the past month, outpacing the Oils-Energy sector’s loss of 11.62% and lagging the S&P 500’s loss of 1.7% in that time.
The investment community will be closely monitoring the performance of Phillips 66 in its forthcoming earnings report. The company is scheduled to release its earnings on January 31, 2025. The company is forecasted to report an EPS of $0.82, showcasing a 73.46% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $31.99 billion, indicating a 17.41% downward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Phillips 66. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.96% lower. At present, Phillips 66 boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Phillips 66 is presently being traded at a Forward P/E ratio of 12.82. For comparison, its industry has an average Forward P/E of 14.47, which means Phillips 66 is trading at a discount to the group.
One should further note that PSX currently holds a PEG ratio of 3.2. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company’s anticipated earnings growth rate. Oil and Gas – Refining and Marketing stocks are, on average, holding a PEG ratio of 2.35 based on yesterday’s closing prices.
The Oil and Gas – Refining and Marketing industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 192, finds itself in the bottom 24% echelons of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
