$28.98 Billion in Sales Expected for Phillips 66 (PSX) This Quarter

Equities analysts predict that Phillips 66 (NYSE:PSX) will report $28.98 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Phillips 66’s earnings. The highest sales estimate is $33.41 billion and the lowest is $25.02 billion. Phillips 66 posted sales of $23.71 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 22.2%. The business is expected to announce its next quarterly earnings report before the market opens on Friday, April 27th.

On average, analysts expect that Phillips 66 will report full year sales of $114.05 billion for the current fiscal year, with estimates ranging from $98.30 billion to $138.09 billion. For the next year, analysts expect that the company will post sales of $118.26 billion per share, with estimates ranging from $99.66 billion to $140.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Phillips 66.

How to Become a New Pot Stock Millionaire

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. Phillips 66 had a return on equity of 9.18% and a net margin of 4.88%. The company 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 company earned $0.16 EPS.

Several equities research analysts have recently commented on PSX shares. ValuEngine raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Scotiabank reissued a “buy” rating and set a $112.00 price target on shares of Phillips 66 in a research note on Wednesday, January 10th. Goldman Sachs raised Phillips 66 to a “buy” rating in a research note on Monday, December 18th. Piper Jaffray reissued a “buy” rating and set a $115.00 price target on shares of Phillips 66 in a research note on Monday, January 22nd. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Phillips 66 in a research note on Thursday, January 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $104.19.

Institutional investors have recently modified their holdings of the stock. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $102,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $119,000. First Dallas Securities Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $143,000. Truewealth LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $151,000. Finally, University of Texas Investment Managment Co. acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $156,000. Hedge funds and other institutional investors own 77.74% of the company’s stock.

Shares of PSX opened at $103.74 on Friday. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $107.47. The company has a market capitalization of $47,876.89, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.09 and a current ratio of 1.42.

TRADEMARK VIOLATION NOTICE: “$28.98 Billion in Sales Expected for Phillips 66 (PSX) This Quarter” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/04/15/28-98-billion-in-sales-expected-for-phillips-66-psx-this-quarter.html.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

Get a free copy of the Zacks research report on Phillips 66 (PSX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply