Zacks: Brokerages Expect Phillips 66 (PSX) Will Post Quarterly Sales of $25.14 Billion
Wall Street analysts expect Phillips 66 (NYSE:PSX) to post sales of $25.14 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Phillips 66’s earnings, with the highest sales estimate coming in at $28.47 billion and the lowest estimate coming in at $21.82 billion. Phillips 66 posted sales of $22.31 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The company is scheduled to announce its next earnings report on Friday, August 4th.
According to Zacks, analysts expect that Phillips 66 will report full-year sales of $25.14 billion for the current financial year, with estimates ranging from $87.68 billion to $136.41 billion. For the next financial year, analysts anticipate that the company will report sales of $112.02 billion per share, with estimates ranging from $97.57 billion to $137.82 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Phillips 66.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.53. The firm had revenue of $23.71 billion for the quarter, compared to analyst estimates of $22.30 billion. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. During the same period last year, the company posted $0.67 EPS.
PSX has been the topic of several recent research reports. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $83.00 price target (down previously from $84.00) on shares of Phillips 66 in a report on Saturday, April 22nd. Jefferies Group LLC set a $74.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a report on Wednesday, April 19th. US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Finally, Scotiabank set a $86.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 has a consensus rating of “Hold” and a consensus price target of $84.86.
Several institutional investors have recently made changes to their positions in the stock. Alpha Windward LLC increased its position in shares of Phillips 66 by 0.3% in the first quarter. Alpha Windward LLC now owns 3,035 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 9 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in Phillips 66 by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock worth $135,000 after buying an additional 11 shares in the last quarter. Northwest Quadrant Wealth Management LLC increased its position in Phillips 66 by 0.6% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock worth $228,000 after buying an additional 18 shares in the last quarter. Argent Trust Co increased its position in Phillips 66 by 0.8% in the first quarter. Argent Trust Co now owns 3,434 shares of the oil and gas company’s stock worth $272,000 after buying an additional 27 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in Phillips 66 by 0.8% in the first quarter. Capital Investment Advisors LLC now owns 3,482 shares of the oil and gas company’s stock worth $276,000 after buying an additional 29 shares in the last quarter. 69.99% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Phillips 66 (PSX) traded up 0.70% on Friday, reaching $79.46. 409,356 shares of the company were exchanged. The stock has a 50 day moving average of $78.60 and a 200-day moving average of $80.50. Phillips 66 has a 52-week low of $73.67 and a 52-week high of $88.87. The company has a market capitalization of $41.01 billion, a P/E ratio of 24.65 and a beta of 1.27.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Thursday, May 18th were paid a dividend of $0.70 per share. This is an increase from Phillips 66’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.55%. Phillips 66’s dividend payout ratio is presently 86.96%.
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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