Phillips 66 (NYSE:PSX) – Research analysts at Jefferies Group lowered their FY2017 earnings estimates for Phillips 66 in a report released on Wednesday, according to Zacks Investment Research. Jefferies Group analyst C. Goldman now anticipates that the oil and gas company will post earnings of $4.84 per share for the year, down from their previous forecast of $5.01. Jefferies Group has a “Underperform” rating and a $75.14 price target on the stock. Jefferies Group also issued estimates for Phillips 66’s Q1 2018 earnings at $1.50 EPS, Q2 2018 earnings at $1.81 EPS, FY2020 earnings at $6.40 EPS and FY2021 earnings at $6.18 EPS.
Several other equities analysts have also weighed in on PSX. Barclays lowered Phillips 66 from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $95.00 to $100.00 in a research note on Tuesday, November 14th. Goldman Sachs Group raised Phillips 66 to a “buy” rating in a research note on Monday, December 18th. Zacks Investment Research raised Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Tuesday, October 10th. US Capital Advisors lowered Phillips 66 from an “overweight” rating to a “hold” rating in a research note on Monday, December 4th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Phillips 66 in a research note on Wednesday, December 20th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $96.66.
Shares of Phillips 66 (NYSE:PSX) traded up $2.60 during trading hours on Thursday, reaching $104.97. The company’s stock had a trading volume of 1,849,280 shares, compared to its average volume of 1,680,000. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $105.09. The firm has a market cap of $53,190.00, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The firm had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. During the same period last year, the company earned $1.05 EPS.
Hedge funds have recently bought and sold shares of the business. Rowland & Co. Investment Counsel ADV purchased a new stake in Phillips 66 during the 4th quarter worth approximately $102,000. Motco increased its holdings in shares of Phillips 66 by 4.0% in the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 50 shares during the last quarter. Ffcm LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $113,000. Bruderman Asset Management LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $112,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $116,000. Institutional investors own 70.12% of the company’s stock.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the sale, the vice president now directly owns 2,700 shares in the company, valued at approximately $270,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.
Phillips 66 announced that its Board of Directors has authorized a share buyback plan on Monday, October 9th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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