Phillips 66 (PSX) closed the latest trading day at $136.35, indicating a -0.05% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%.

Heading into today, shares of the oil refiner had gained 8.51% over the past month, outpacing the Oils-Energy sector's loss of 2.26% and the S&P 500's gain of 5.36% in that time.

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 October 29, 2024. The company's upcoming EPS is projected at $1.73, signifying a 62.63% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $32.05 billion, reflecting a 20.51% fall from the equivalent quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.84 per share and a revenue of $138.93 billion, representing changes of -50.41% and -7.31%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Phillips 66. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been a 14.21% fall in the Zacks Consensus EPS estimate. Phillips 66 is currently sporting a Zacks Rank of #5 (Strong Sell).

In terms of valuation, Phillips 66 is presently being traded at a Forward P/E ratio of 17.4. This signifies a premium in comparison to the average Forward P/E of 15.33 for its industry.

We can also see that PSX currently has a PEG ratio of 5.8. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PSX's industry had an average PEG ratio of 2.55 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 238, putting it in the bottom 6% 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.

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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