Wall Street brokerages expect Phillips 66 (NYSE:PSX) to report $1.05 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Phillips 66’s earnings, with the highest EPS estimate coming in at $1.63 and the lowest estimate coming in at $0.80. Phillips 66 posted earnings of $0.16 per share in the same quarter last year, which suggests a positive year over year growth rate of 556.3%. The business is scheduled to issue its next earnings results before the market opens on Friday, February 2nd.
On average, analysts expect that Phillips 66 will report full year earnings of $4.36 per share for the current year, with EPS estimates ranging from $4.12 to $4.84. For the next financial year, analysts forecast that the business will post earnings of $6.64 per share, with EPS estimates ranging from $5.40 to $7.98. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Phillips 66.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The business had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. During the same period last year, the company earned $1.05 EPS.
Several equities research analysts recently commented on PSX shares. UBS Group lifted their target price on shares of Phillips 66 from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 15th. Wells Fargo & Co reiterated a “market perform” rating and set a $91.00 target price (up from $84.00) on shares of Phillips 66 in a research report on Tuesday, October 17th. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research report on Monday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Finally, Howard Weil upgraded shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $86.00 to $98.00 in a research report on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $96.66.
Phillips 66 (NYSE PSX) traded down $0.87 during trading hours on Thursday, reaching $105.29. 1,510,000 shares of the company traded hands, compared to its average volume of 1,650,000. 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 twelve month low of $75.14 and a twelve month high of $106.91. The firm has a market cap of $53,350.00, a P/E ratio of 26.52, a PEG ratio of 1.59 and a beta of 1.24.
Phillips 66 declared that its Board of Directors has initiated a share buyback program on Monday, October 9th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the transaction, the vice president now owns 2,700 shares in the company, valued at approximately $270,675. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock worth $2,631,704,000 after purchasing an additional 130,653 shares during the period. BlackRock Inc. increased its stake in shares of Phillips 66 by 0.7% in the 2nd quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock valued at $2,317,389,000 after acquiring an additional 203,138 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Phillips 66 by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after acquiring an additional 71,098 shares in the last quarter. FMR LLC increased its stake in shares of Phillips 66 by 37.1% in the 2nd quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock valued at $621,890,000 after acquiring an additional 2,036,258 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Phillips 66 by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,838,096 shares of the oil and gas company’s stock valued at $626,438,000 after acquiring an additional 422,652 shares in the last quarter. Hedge funds and other institutional investors own 70.12% of the company’s stock.
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About Phillips 66
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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