On Wednesday, Phillips 66 got an upgrade for its IBD SmartSelect Composite Rating from 94 to 96.
The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength. Winning stocks often have a 95 or higher score in the early stages of a new price run, so that's a good item to have on your checklist when looking for the best stocks to buy and watch.
Phillips 66 is not currently near a proper buy zone. See if the stock goes on to form a new base and offer a new buying opportunity.
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One weak spot is the company's 76 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of E shows heavy selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better before jumping in.
Earnings News
The company posted a 214% earnings-per-share gain for Q1. Sales growth came in at 67%, down from 100% in the prior quarter. The company's next quarterly report is expected on or around Aug. 3.
Phillips 66 holds the No. 5 rank among its peers in the Oil & Gas-Refining/Marketing industry group. CrossAmerica Partners is the top-ranked stock within the group.
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