Equities analysts expect that Phillips 66 (NYSE:PSX) will announce earnings per share (EPS) of $2.14 for the current quarter, Zacks reports. Three analysts have issued estimates for Phillips 66’s earnings, with the lowest EPS estimate coming in at $1.41 and the highest estimate coming in at $2.76. Phillips 66 reported earnings per share of $1.09 in the same quarter last year, which would suggest a positive year-over-year growth rate of 96.3%. The business is expected to issue its next earnings report on Tuesday, August 7th.
On average, analysts expect that Phillips 66 will report full year earnings of $7.21 per share for the current fiscal year, with EPS estimates ranging from $5.12 to $9.23. For the next year, analysts forecast that the company will post earnings of $8.78 per share, with EPS estimates ranging from $7.50 to $10.99. Zacks’ EPS averages are an average based on a survey of analysts that cover Phillips 66.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 27th. The oil and gas company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. Phillips 66 had a return on equity of 10.00% and a net margin of 4.85%. The business had revenue of $24.05 billion for the quarter, compared to analysts’ expectations of $29.23 billion. During the same quarter in the previous year, the firm earned $0.56 earnings per share.
Several equities analysts recently issued reports on the company. Credit Suisse Group boosted their price target on Phillips 66 from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, April 30th. Barclays boosted their price target on Phillips 66 from $105.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, April 30th. Argus boosted their price target on Phillips 66 to $133.00 and gave the company a “buy” rating in a research report on Thursday, May 17th. Citigroup boosted their price target on Phillips 66 from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, March 13th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $106.00 price target on shares of Phillips 66 in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Phillips 66 presently has an average rating of “Hold” and a consensus target price of $106.19.
Phillips 66 traded up $0.18, hitting $118.93, during trading on Friday, MarketBeat reports. The company had a trading volume of 193,600 shares, compared to its average volume of 2,711,215. The stock has a market capitalization of $56.57 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.99 and a beta of 1.07. Phillips 66 has a 1-year low of $75.85 and a 1-year high of $122.38. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.48.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 21st will be given a dividend of $0.80 per share. This is a boost from Phillips 66’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, May 18th. This represents a $3.20 annualized dividend and a yield of 2.69%. Phillips 66’s payout ratio is presently 73.06%.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 6,900 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $120.00, for a total transaction of $828,000.00. Following the transaction, the vice president now owns 8,177 shares in the company, valued at approximately $981,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elkfork Partners LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth approximately $1,633,000. Haverford Trust Co. boosted its stake in shares of Phillips 66 by 18.0% during the 4th quarter. Haverford Trust Co. now owns 12,450 shares of the oil and gas company’s stock worth $1,259,000 after acquiring an additional 1,900 shares in the last quarter. Smith Moore & CO. boosted its stake in shares of Phillips 66 by 10.0% during the 4th quarter. Smith Moore & CO. now owns 9,509 shares of the oil and gas company’s stock worth $962,000 after acquiring an additional 863 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Phillips 66 during the 4th quarter worth approximately $119,000. Finally, Timber Hill LLC boosted its stake in shares of Phillips 66 by 709.1% during the 4th quarter. Timber Hill LLC now owns 32,365 shares of the oil and gas company’s stock worth $3,274,000 after acquiring an additional 28,365 shares in the last quarter. Institutional investors own 69.39% of the company’s stock.
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.
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