The most recent trading session ended with Phillips 66 (PSX) standing at $121.86, reflecting a -0.62% shift from the previouse trading day’s closing. This change lagged the S&P 500’s daily loss of 0.29%. Elsewhere, the Dow saw a downswing of 0.32%, while the tech-heavy Nasdaq depreciated by 0.5%.
Shares of the oil refiner witnessed a gain of 9.29% over the previous month, beating the performance of the Oils-Energy sector with its loss of 1.71% and the S&P 500’s gain of 2.52%.
Analysts and investors alike will be keeping a close eye on the performance of Phillips 66 in its upcoming earnings disclosure. The company’s earnings report is set to go public on January 31, 2025. It is anticipated that the company will report an EPS of $0.17, marking a 94.5% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $32.25 billion, reflecting a 16.75% fall from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for Phillips 66. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 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.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 12.99% downward. At present, Phillips 66 boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Phillips 66 is presently trading at a Forward P/E ratio of 15.64. This signifies a discount in comparison to the average Forward P/E of 16.98 for its industry.
We can additionally observe that PSX currently boasts a PEG ratio of 3.91. 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 average PEG ratio for the Oil and Gas – Refining and Marketing industry stood at 2.93 at the close of the market yesterday.
The Oil and Gas – Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 68, putting it in the top 28% 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.
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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