Equities analysts predict that Phillips 66 (NYSE:PSX) will report $1.27 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Phillips 66’s earnings. The lowest EPS estimate is $1.08 and the highest is $1.38. Phillips 66 posted earnings of $0.16 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 693.8%. The firm is expected to report its next earnings report on Friday, February 2nd.
According to Zacks, analysts expect that Phillips 66 will report full-year earnings of $4.58 per share for the current year, with EPS estimates ranging from $4.39 to $5.01. For the next year, analysts forecast that the company will post earnings of $6.14 per share, with EPS estimates ranging from $4.90 to $7.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Phillips 66.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The firm had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same period in the prior year, the firm posted $1.05 earnings per share.
Several equities analysts recently commented on the company. Barclays PLC lowered Phillips 66 from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $95.00 to $100.00 in a report on Tuesday. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a research note on Monday. Piper Jaffray Companies set a $93.00 price objective on shares of Phillips 66 and gave the company a “buy” rating in a research note on Monday. J P Morgan Chase & Co upped their price objective on shares of Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $91.00 price objective (up previously from $84.00) on shares of Phillips 66 in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $93.33.
Shares of Phillips 66 (NYSE PSX) traded down $0.34 during midday trading on Thursday, reaching $93.32. The company’s stock had a trading volume of 1,264,800 shares, compared to its average volume of 2,235,059. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $95.00. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $47,040.00, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.
Phillips 66 announced that its Board of Directors has authorized a share repurchase plan on Monday, October 9th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio is presently 70.53%.
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In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in PSX. Jacobi Capital Management LLC boosted its holdings in shares of Phillips 66 by 27.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock worth $100,000 after buying an additional 277 shares during the period. 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 valued at $108,000 after purchasing an additional 50 shares during the period. Westside Investment Management Inc. raised its stake in shares of Phillips 66 by 239.2% in the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,000 shares in the last quarter. Bruderman Asset Management LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $112,000. Finally, Farmers National Bank acquired a new position in shares of Phillips 66 in the 1st quarter valued at $113,000. Institutional investors and hedge funds own 69.81% of the company’s stock.
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.
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