Phillips 66 (PSX) Laps the Stock Market: Here's Why

The most recent trading session ended with Phillips 66 (PSX) standing at $129.19, reflecting a +1.94% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.64%. On the other hand, the Dow registered a gain of 0.85%, and the technology-centric Nasdaq increased by 0.31%.Coming into today, shares of the oil refiner had lost 1.02% in the past month. In that same time, the Oils-Energy sector lost 3.15%, while the S&P 500 lost 7.69%.Market participants will be closely following the financial results of Phillips 66 in its upcoming release. The company's upcoming EPS is projected at $0.05, signifying a 97.37% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $30.28 billion, down 16.9% from the year-ago period.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.34 per share and revenue of $124.38 billion, indicating changes of +3.09% and -14.51%, respectively, compared to the previous year.It is also important to note the recent changes to analyst estimates for Phillips 66. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.81% lower within the past month. Phillips 66 is currently sporting a Zacks Rank of #3 (Hold).With respect to valuation, Phillips 66 is currently being traded at a Forward P/E ratio of 20. This expresses a premium compared to the average Forward P/E of 16.71 of its industry.One should further note that PSX currently holds a PEG ratio of 5. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. PSX's industry had an average PEG ratio of 2.79 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 176, putting it in the bottom 30% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Phillips 66 (PSX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks