Equities analysts forecast that Phillips 66 (NYSE:PSX) will announce earnings of $2.44 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Phillips 66’s earnings, with the lowest EPS estimate coming in at $2.19 and the highest estimate coming in at $2.54. Phillips 66 posted earnings of $1.66 per share during the same quarter last year, which indicates a positive year over year growth rate of 47%. The business is expected to announce its next quarterly earnings report before the market opens on Friday, October 26th.
According to Zacks, analysts expect that Phillips 66 will report full year earnings of $8.04 per share for the current financial year, with EPS estimates ranging from $7.76 to $8.50. For the next year, analysts anticipate that the company will post earnings of $9.63 per share, with EPS estimates ranging from $8.19 to $11.25. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Phillips 66.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 27th. The oil and gas company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.64. The firm had revenue of $29.74 billion during the quarter, compared to analysts’ expectations of $29.40 billion. Phillips 66 had a net margin of 5.34% and a return on equity of 12.87%. During the same quarter in the prior year, the business earned $1.09 earnings per share.
PSX has been the subject of a number of research reports. Zacks Investment Research raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a report on Tuesday, September 11th. Morgan Stanley increased their target price on shares of Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Barclays raised shares of Phillips 66 from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $133.00 to $128.00 in a report on Wednesday, October 3rd. ValuEngine cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Finally, Jefferies Financial Group raised shares of Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 target price for the company in a report on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $119.45.
PSX stock opened at $102.77 on Friday. The stock has a market capitalization of $50.50 billion, a PE ratio of 23.46, a P/E/G ratio of 1.59 and a beta of 1.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 0.82. Phillips 66 has a 12 month low of $89.14 and a 12 month high of $123.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be issued a $0.80 dividend. The ex-dividend date is Friday, November 16th. This represents a $3.20 dividend on an annualized basis and a yield of 3.11%. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Phillips 66 by 8.1% in the 2nd quarter. BlackRock Inc. now owns 29,146,903 shares of the oil and gas company’s stock valued at $3,273,487,000 after buying an additional 2,194,280 shares during the last quarter. FMR LLC raised its holdings in Phillips 66 by 9.0% in the 2nd quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock valued at $1,617,273,000 after buying an additional 1,188,567 shares during the last quarter. Northern Trust Corp raised its holdings in Phillips 66 by 4.2% in the 2nd quarter. Northern Trust Corp now owns 5,506,365 shares of the oil and gas company’s stock valued at $618,420,000 after buying an additional 221,487 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Phillips 66 by 3.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,490,228 shares of the oil and gas company’s stock valued at $167,368,000 after buying an additional 54,190 shares during the last quarter. Finally, Swiss National Bank increased its position in Phillips 66 by 5.0% during the 2nd quarter. Swiss National Bank now owns 1,464,514 shares of the oil and gas company’s stock valued at $164,480,000 after purchasing an additional 69,600 shares during the period. Institutional investors and hedge funds own 69.57% 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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