Analysts Anticipate Phillips 66 (PSX) Will Post Earnings of $1.20 Per Share
Equities research analysts expect Phillips 66 (NYSE:PSX) to announce earnings of $1.20 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Phillips 66’s earnings. The lowest EPS estimate is $0.85 and the highest is $1.63. Phillips 66 posted earnings per share of $0.16 in the same quarter last year, which indicates a positive year-over-year growth rate of 650%. The business is expected to announce its next quarterly earnings report on Friday, February 2nd.
On average, analysts expect that Phillips 66 will report full-year earnings of $4.52 per share for the current year, with EPS estimates ranging from $4.17 to $4.84. For the next financial year, analysts forecast that the business will report earnings of $6.30 per share, with EPS estimates ranging from $4.90 to $7.50. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Phillips 66.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. The firm had revenue of $26.21 billion during the quarter, compared to analyst estimates of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same quarter in the previous year, the business posted $1.05 EPS.
Several analysts have weighed in on the stock. Piper Jaffray Companies set a $93.00 target price on shares of Phillips 66 and gave the stock a “buy” rating in a research report on Monday, November 13th. Vetr raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research report on Monday, November 27th. Jefferies Group reissued a “hold” rating and set a $78.00 target price on shares of Phillips 66 in a research report on Tuesday, September 5th. Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, US Capital Advisors downgraded shares of Phillips 66 from an “overweight” rating to a “hold” rating in a research report on Monday, December 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Phillips 66 currently has a consensus rating of “Hold” and a consensus price target of $94.14.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the sale, the vice president now directly owns 2,700 shares of the company’s stock, valued at approximately $270,675. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Institute for Wealth Management LLC. purchased a new stake in Phillips 66 during the second quarter worth $979,000. Blue Edge Capital LLC boosted its holdings in Phillips 66 by 3.2% during the second quarter. Blue Edge Capital LLC now owns 5,088 shares of the oil and gas company’s stock worth $421,000 after buying an additional 160 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Phillips 66 by 0.9% during the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after buying an additional 71,098 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in Phillips 66 by 3.5% during the second quarter. Great Lakes Advisors LLC now owns 603,678 shares of the oil and gas company’s stock worth $49,919,000 after buying an additional 20,264 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in Phillips 66 by 7.7% during the third quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock worth $31,039,000 after buying an additional 24,318 shares in the last quarter. 70.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Phillips 66 (PSX) opened at $101.15 on Tuesday. The firm has a market cap of $51,739.32, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $102.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31.
Phillips 66 announced that its board has approved a stock repurchase plan on Monday, October 9th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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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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