Analysts predict that Phillips 66 (NYSE:PSX) will post $29.55 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Phillips 66’s earnings. The lowest sales estimate is $25.02 billion and the highest is $35.16 billion. Phillips 66 reported sales of $23.71 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 24.6%. The business is scheduled to issue its next earnings report on Friday, April 27th.
According to Zacks, analysts expect that Phillips 66 will report full-year sales of $29.55 billion for the current fiscal year, with estimates ranging from $97.71 billion to $139.58 billion. For the next fiscal year, analysts expect that the company will report sales of $117.82 billion per share, with estimates ranging from $97.92 billion to $140.26 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Phillips 66.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.21. Phillips 66 had a net margin of 4.88% and a return on equity of 9.18%. The firm had revenue of $30.12 billion for the quarter, compared to analyst estimates of $30.71 billion. During the same quarter in the previous year, the business posted $0.16 EPS.
PSX has been the topic of a number of recent analyst reports. Cowen reiterated an “outperform” rating and issued a $137.00 price objective (up previously from $125.00) on shares of Phillips 66 in a report on Wednesday, February 14th. Goldman Sachs Group raised shares of Phillips 66 to a “buy” rating in a research report on Monday, December 18th. Barclays reissued a “sell” rating and issued a $111.00 target price on shares of Phillips 66 in a research report on Wednesday, January 10th. Citigroup dropped their target price on shares of Phillips 66 from $110.00 to $103.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, Credit Suisse Group began coverage on shares of Phillips 66 in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 target price for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $103.46.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the sale, the vice president now owns 2,700 shares of the company’s stock, valued at approximately $270,675. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in PSX. Vaughan David Investments Inc. IL grew its position in shares of Phillips 66 by 5,820.5% during the 3rd quarter. Vaughan David Investments Inc. IL now owns 468,782 shares of the oil and gas company’s stock valued at $21,395,000 after buying an additional 460,864 shares during the last quarter. Bank of New York Mellon Corp grew its position in 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 worth $626,438,000 after purchasing an additional 422,652 shares during the last quarter. Mackenzie Financial Corp bought a new position in Phillips 66 in the 4th quarter worth about $37,580,000. Acadian Asset Management LLC grew its position in Phillips 66 by 94.5% in the 4th quarter. Acadian Asset Management LLC now owns 668,397 shares of the oil and gas company’s stock worth $67,606,000 after purchasing an additional 324,680 shares during the last quarter. Finally, Eaton Vance Management grew its position in Phillips 66 by 19.4% in the 4th quarter. Eaton Vance Management now owns 1,980,794 shares of the oil and gas company’s stock worth $200,357,000 after purchasing an additional 321,404 shares during the last quarter. 77.87% of the stock is owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE PSX) traded up $0.25 during mid-day trading on Monday, reaching $94.46. 2,690,637 shares of the company’s stock were exchanged, compared to its average volume of 2,285,028. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $107.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.09. The firm has a market cap of $47,220.00, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.54 and a beta of 1.18.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Tuesday, February 20th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66’s dividend payout ratio is presently 61.00%.
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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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