Brokerages Expect Phillips 66 (PSX) to Announce $1.48 Earnings Per Share
Brokerages forecast that Phillips 66 (NYSE:PSX) will report $1.48 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Phillips 66’s earnings, with the highest EPS estimate coming in at $1.73 and the lowest estimate coming in at $1.25. Phillips 66 reported earnings per share of $1.05 during the same quarter last year, which would indicate a positive year-over-year growth rate of 41%. The company is expected to issue its next quarterly earnings report on Friday, October 27th.
According to Zacks, analysts expect that Phillips 66 will report full-year earnings of $4.17 per share for the current year, with EPS estimates ranging from $3.65 to $5.25. For the next year, analysts anticipate that the business will report earnings of $5.58 per share, with EPS estimates ranging from $4.10 to $6.50. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Phillips 66.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The firm had revenue of $24.58 billion during the quarter, compared to analysts’ expectations of $25.14 billion. During the same period in the prior year, the business earned $0.94 EPS.
PSX has been the topic of several research reports. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. Scotiabank set a $86.00 target price on Phillips 66 and gave the stock a “hold” rating in a report on Tuesday, August 1st. Citigroup Inc. reaffirmed a “neutral” rating and issued a $83.00 target price (down from $84.00) on shares of Phillips 66 in a report on Saturday, April 22nd. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Finally, Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Phillips 66 has an average rating of “Hold” and a consensus price target of $83.53.
Phillips 66 (NYSE PSX) opened at 85.60 on Monday. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $88.87. The stock has a 50 day moving average price of $81.91 and a 200-day moving average price of $79.67. The stock has a market capitalization of $43.79 billion, a PE ratio of 25.60 and a beta of 1.22.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.27%. Phillips 66’s dividend payout ratio is currently 83.58%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capstone Asset Management Co. raised its position in Phillips 66 by 9.6% in the first quarter. Capstone Asset Management Co. now owns 178,119 shares of the oil and gas company’s stock valued at $14,111,000 after buying an additional 15,577 shares in the last quarter. Gradient Investments LLC raised its position in Phillips 66 by 55,124.8% in the first quarter. Gradient Investments LLC now owns 75,658 shares of the oil and gas company’s stock valued at $5,994,000 after buying an additional 75,521 shares in the last quarter. E&G Advisors LP bought a new position in Phillips 66 during the first quarter valued at approximately $364,000. Stillwater Investment Management LLC raised its position in Phillips 66 by 3.8% in the first quarter. Stillwater Investment Management LLC now owns 15,452 shares of the oil and gas company’s stock valued at $1,224,000 after buying an additional 571 shares in the last quarter. Finally, LVM Capital Management Ltd. MI raised its position in Phillips 66 by 4.9% in the first quarter. LVM Capital Management Ltd. MI now owns 4,301 shares of the oil and gas company’s stock valued at $341,000 after buying an additional 201 shares in the last quarter. Institutional investors own 69.78% 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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