Phillips 66 (PSX) Expected to Post Quarterly Sales of $25.14 Billion
Equities analysts expect that Phillips 66 (NYSE:PSX) will report sales of $25.14 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Phillips 66’s earnings, with the lowest sales estimate coming in at $21.82 billion and the highest estimate coming in at $28.46 billion. Phillips 66 reported sales of $22.31 billion during the same quarter last year, which would suggest a positive year over year growth rate of 12.7%. The firm is scheduled to report its next earnings results before the market opens on Tuesday, August 1st.
According to Zacks, analysts expect that Phillips 66 will report full year sales of $25.14 billion for the current year, with estimates ranging from $87.68 billion to $127.60 billion. For the next fiscal year, analysts expect that the firm will report sales of $111.53 billion per share, with estimates ranging from $95.63 billion to $137.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Phillips 66.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $22.30 billion. During the same period in the prior year, the business earned $0.67 EPS.
A number of analysts have weighed in on the stock. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reiterated a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a research report on Friday, July 14th. BidaskClub upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Scotiabank restated a “hold” rating and set a $86.00 price objective on shares of Phillips 66 in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Phillips 66 has an average rating of “Hold” and an average target price of $84.12.
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Shares of Phillips 66 (NYSE PSX) traded down 0.65% during midday trading on Thursday, hitting $82.38. 656,661 shares of the stock were exchanged. The firm has a market cap of $42.52 billion, a P/E ratio of 25.56 and a beta of 1.23. The firm has a 50 day moving average of $80.30 and a 200 day moving average of $79.77. Phillips 66 has a 12-month low of $73.82 and a 12-month high of $88.87.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.38%. Phillips 66’s dividend payout ratio is currently 86.96%.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of 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 during the period. BlackRock Inc. raised its stake in shares of 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 during the period. State Street Corp raised its stake in shares of 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 during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of 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 during the period. Finally, Wells Fargo & Company MN raised its stake in shares of 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 during the period. 69.09% of the stock is owned by hedge funds and other institutional investors.
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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