Phillips 66 (NYSE:PSX) – Investment analysts at Piper Jaffray Companies upped their Q4 2019 EPS estimates for Phillips 66 in a research note issued on Wednesday, May 15th. Piper Jaffray Companies analyst B. Fernandez now forecasts that the oil and gas company will post earnings per share of $1.91 for the quarter, up from their prior forecast of $1.70. Piper Jaffray Companies also issued estimates for Phillips 66’s Q1 2020 earnings at $1.78 EPS.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. The company had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the prior year, the business posted $1.04 EPS.
Several other equities research analysts also recently issued reports on PSX. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and raised their target price for the company from $105.00 to $107.00 in a research note on Monday, April 15th. Argus lowered their target price on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Citigroup boosted their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $120.67.
Phillips 66 stock opened at $86.92 on Thursday. Phillips 66 has a one year low of $78.44 and a one year high of $123.97. The stock has a market cap of $38.91 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 1.36 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.84.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.14%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 27.33%.
In related news, Chairman Greg C. Garland sold 42,728 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Lowe purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average price of $84.41 per share, with a total value of $168,820.00. The disclosure for this purchase can be found here. 0.13% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of PSX. Oregon Public Employees Retirement Fund increased its stake in shares of Phillips 66 by 3,775.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,647,103 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 4,527,183 shares in the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $386,757,000. LSV Asset Management boosted its holdings in shares of Phillips 66 by 96.9% during the 4th quarter. LSV Asset Management now owns 3,201,428 shares of the oil and gas company’s stock valued at $275,803,000 after acquiring an additional 1,575,744 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Phillips 66 by 54.9% during the 1st quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock valued at $315,479,000 after acquiring an additional 1,181,277 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Phillips 66 by 7.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock valued at $1,175,542,000 after acquiring an additional 958,545 shares during the last quarter. Institutional investors own 71.83% of the company’s stock.
Phillips 66 Company Profile
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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
Further Reading: Average Daily Trade Volume – ADTV
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