US Capital Advisors Brokers Reduce Earnings Estimates for Phillips 66 (NYSE:PSX)

Phillips 66 (NYSE:PSX) – Equities research analysts at US Capital Advisors lowered their FY2018 EPS estimates for shares of Phillips 66 in a research report issued to clients and investors on Monday, April 16th, Zacks Investment Research reports. US Capital Advisors analyst C. Weiland now expects that the oil and gas company will post earnings of $7.03 per share for the year, down from their prior estimate of $7.23. US Capital Advisors also issued estimates for Phillips 66’s Q4 2018 earnings at $1.59 EPS and FY2019 earnings at $9.27 EPS.

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Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. Phillips 66 had a net margin of 4.88% and a return on equity of 9.18%. The business had revenue of $30.12 billion during the quarter, compared to analyst estimates of $30.71 billion. During the same period in the previous year, the business earned $0.16 EPS.

A number of other research firms have also weighed in on PSX. ValuEngine lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Citigroup lifted their price objective on shares of Phillips 66 from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, March 13th. Credit Suisse Group reiterated a “neutral” rating and issued a $110.00 price objective on shares of Phillips 66 in a research note on Wednesday, March 7th. Deutsche Bank reduced their price target on shares of Phillips 66 from $106.00 to $102.00 and set a “hold” rating for the company in a research report on Monday, March 19th. Finally, JPMorgan Chase boosted their price target on shares of Phillips 66 from $108.00 to $109.00 and gave the company a “neutral” rating in a research report on Monday, April 9th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Phillips 66 currently has a consensus rating of “Hold” and an average price target of $104.19.

Phillips 66 stock opened at $109.23 on Tuesday. Phillips 66 has a 1-year low of $75.85 and a 1-year high of $113.27. The company has a market capitalization of $51,991.42, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07. The company has a quick ratio of 1.09, a current ratio of 1.42 and a debt-to-equity ratio of 0.37.

A number of large investors have recently made changes to their positions in PSX. Mackenzie Financial Corp purchased a new position in Phillips 66 in the fourth quarter worth $37,580,000. Acadian Asset Management LLC grew its position in Phillips 66 by 94.5% in the fourth quarter. Acadian Asset Management LLC now owns 668,397 shares of the oil and gas company’s stock worth $67,606,000 after acquiring an additional 324,680 shares in the last quarter. Eaton Vance Management grew its position in Phillips 66 by 19.4% in the fourth quarter. Eaton Vance Management now owns 1,980,794 shares of the oil and gas company’s stock worth $200,357,000 after acquiring an additional 321,404 shares in the last quarter. Bank of New York Mellon Corp grew its position in Phillips 66 by 3.8% in the fourth quarter. Bank of New York Mellon Corp now owns 7,098,574 shares of the oil and gas company’s stock worth $718,021,000 after acquiring an additional 260,478 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its position in Phillips 66 by 55.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 574,477 shares of the oil and gas company’s stock worth $58,107,000 after acquiring an additional 205,484 shares in the last quarter. Institutional investors own 77.72% of the company’s stock.

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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, 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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Earnings History and Estimates for Phillips 66 (NYSE:PSX)

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