Phillips 66 stock declined slightly despite overall market improvement

From Nasdaq: 2024-07-26 18:15:18

In the latest trading session, Phillips 66 (PSX) closed at $142.21, down -0.21%. It underperformed compared to the S&P 500’s 1.11% gain, but the Dow rose by 1.64% and the Nasdaq by 1.03%. Over the past month, PSX shares increased by 2.23%, surpassing losses in the Oils-Energy sector (-10.8%) and the S&P 500 (-1.16%).

Phillips 66 is set to announce its earnings on July 30, 2024. Analysts forecast an EPS of $3.10, down 19.9% from the prior year, with an estimated revenue of $32.01 billion, down by 10.44%. For the fiscal year, the company is expected to generate an EPS of $10.06 and revenue of $133.01 billion.

Recent analyst revisions show a shift in near-term business trends, affecting stock performance. The Zacks Rank system indicates a #5 (Strong Sell) rating for Phillips 66. With a Forward P/E of 14.17 and PEG ratio of 2.36, the stock may be trading at a discount compared to industry averages.

Investors are encouraged to keep an eye on Phillips 66 as it navigates various market conditions. Industry comparisons show potential for growth, with the Zacks Industry Rank revealing valuable insights for future trading sessions. Considering these factors, the upcoming earnings report on July 30, 2024, will provide additional clarity for investors.



Read more at Nasdaq: Phillips 66 (PSX) Stock Declines While Market Improves: Some Information for Investors