Phillips 66 (NYSE:PSX) Expected to Post Earnings of $1.14 Per Share
Equities analysts forecast that Phillips 66 (NYSE:PSX) will post earnings of $1.14 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Phillips 66’s earnings, with the highest EPS estimate coming in at $1.36 and the lowest estimate coming in at $1.00. Phillips 66 posted earnings per share of $0.94 during the same quarter last year, which indicates a positive year over year growth rate of 21.3%. The firm is expected to announce its next earnings results before the market opens on Tuesday, August 1st.
On average, analysts expect that Phillips 66 will report full-year earnings of $4.31 per share for the current year, with EPS estimates ranging from $3.60 to $5.25. For the next financial year, analysts anticipate that the firm will post earnings of $5.83 per share, with EPS estimates ranging from $4.00 to $7.12. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Phillips 66.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.53. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. The company had revenue of $23.71 billion during the quarter, compared to the consensus estimate of $22.30 billion. During the same period last year, the firm earned $0.67 EPS.
A number of brokerages have recently weighed in on PSX. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $84.00 price target on shares of Phillips 66 in a research note on Friday. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Scotiabank reaffirmed a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a research note on Tuesday, June 27th. Finally, BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Hold” and a consensus price target of $84.12.
Shares of Phillips 66 (PSX) opened at 81.81 on Tuesday. The firm has a market capitalization of $42.22 billion, a P/E ratio of 25.38 and a beta of 1.22. The stock’s 50 day moving average is $78.80 and its 200-day moving average is $80.27. Phillips 66 has a 52-week low of $73.82 and a 52-week high of $88.87.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.42%. Phillips 66’s dividend payout ratio is currently 86.96%.
Several large investors have recently added to or reduced their stakes in PSX. Vanguard Group Inc. raised its stake in Phillips 66 by 2.5% in the first quarter. Vanguard Group Inc. now owns 31,695,502 shares of the oil and gas company’s stock worth $2,510,918,000 after buying an additional 780,469 shares in the last quarter. BlackRock Inc. raised its stake in Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock worth $2,204,052,000 after buying an additional 26,676,647 shares in the last quarter. State Street Corp raised its stake in Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after buying an additional 921,895 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Phillips 66 by 4.3% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock worth $1,136,792,000 after buying an additional 585,176 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Phillips 66 by 2.5% in the first quarter. Wells Fargo & Company MN now owns 8,350,941 shares of the oil and gas company’s stock worth $661,561,000 after buying an additional 205,952 shares in the last quarter. Institutional investors and hedge funds own 69.09% of the company’s stock.
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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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