Phillips 66 (NYSE: PSX) has reported earnings for its first fiscal quarter (ending March 31) of $1.74 versus $4.21 for the same period a year ago — a decline of -59%. This result fell short of the consensus estimate of $3.23 by $-1.49. For the latest four quarters through March 31, E.P.S. were $13.06 versus $25.94 for the same period a year ago — a decline of -50%.
Recent Price Action
Phillips 66 (NYSE: PSX) stock closed at $151.41 on 4/26/24 after a decline of -3.7%. Moreover, unusually high trading volume at 152% of normal accompanied the decline. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -1.2% during the last week.
Current PriceTarget Research Rating
PSX is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Phillips 66 has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects complementary signals from PTR’s two proprietary measures of a stock’s attractiveness. Phillips 66 has a slightly positive Appreciation Score of 66 and a very high Power Rating of 96, with the Highest Value Trend Rating the result.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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