Brokerages Expect Phillips 66 (PSX) Will Post Quarterly Sales of $32.08 Billion
Brokerages expect that Phillips 66 (NYSE:PSX) will report sales of $32.08 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Phillips 66’s earnings, with the lowest sales estimate coming in at $28.36 billion and the highest estimate coming in at $37.95 billion. Phillips 66 posted sales of $23.67 billion during the same quarter last year, which would indicate a positive year over year growth rate of 35.5%. The company is expected to issue its next quarterly earnings results before the market opens on Friday, February 2nd.
On average, analysts expect that Phillips 66 will report full-year sales of $32.08 billion for the current fiscal year, with estimates ranging from $97.01 billion to $112.44 billion. For the next year, analysts forecast that the firm will post sales of $115.79 billion per share, with estimates ranging from $98.00 billion to $141.58 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Phillips 66.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. During the same period in the prior year, the firm posted $1.05 EPS.
Phillips 66 (NYSE PSX) opened at $105.63 on Friday. The stock has a market capitalization of $53,530.00, a P/E ratio of 26.61, a P/E/G ratio of 1.60 and a beta of 1.24. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $106.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86.
Phillips 66 announced that its board has approved a stock repurchase program on Monday, October 9th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares in the company, valued at approximately $270,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.
Several large investors have recently bought and sold shares of PSX. Rowland & Co. Investment Counsel ADV bought a new position in Phillips 66 in the 4th quarter worth $102,000. Motco boosted its holdings in Phillips 66 by 4.0% in the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after buying an additional 50 shares during the period. Bruderman Asset Management LLC bought a new position in Phillips 66 in the 2nd quarter worth $112,000. Ffcm LLC bought a new position in Phillips 66 in the 2nd quarter worth $113,000. Finally, Mountain Capital Investment Advisors Inc bought a new position in Phillips 66 in the 2nd quarter worth $127,000. Hedge funds and other institutional investors own 70.12% of the company’s stock.
TRADEMARK VIOLATION WARNING: This story was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/brokerages-expect-phillips-66-psx-will-post-quarterly-sales-of-32-08-billion/1814770.html.
Phillips 66 Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.