US Capital Advisors Research Analysts Decrease Earnings Estimates for Phillips 66 (PSX)
Phillips 66 (NYSE:PSX) – Equities researchers at US Capital Advisors reduced their Q3 2017 earnings per share estimates for shares of Phillips 66 in a research note issued on Thursday. US Capital Advisors analyst C. Weiland now expects that the oil and gas company will earn $1.46 per share for the quarter, down from their prior forecast of $1.50. US Capital Advisors has a “Buy” rating on the stock. US Capital Advisors also issued estimates for Phillips 66’s Q4 2017 earnings at $0.84 EPS, Q3 2018 earnings at $1.83 EPS and FY2018 earnings at $5.50 EPS.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.07. The business had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period last year, the company posted $0.94 earnings per share. TRADEMARK VIOLATION NOTICE: This story was originally posted by American Banking News and is the property of of American Banking News. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/08/18/us-capital-advisors-research-analysts-decrease-earnings-estimates-for-phillips-66-psx.html.
Several other analysts also recently commented on the company. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $84.00 target price on shares of Phillips 66 in a research note on Friday, July 14th. Zacks Investment Research downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Scotiabank set a $86.00 target price on Phillips 66 and gave the company a “hold” rating in a research note on Monday, May 1st. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $87.00 target price on shares of Phillips 66 in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Phillips 66 currently has an average rating of “Hold” and a consensus price target of $83.53.
Shares of Phillips 66 (NYSE PSX) opened at 80.89 on Friday. The company’s 50-day moving average price is $83.34 and its 200-day moving average price is $79.82. Phillips 66 has a one year low of $75.14 and a one year high of $88.87. The company has a market capitalization of $41.38 billion, a price-to-earnings ratio of 24.19 and a beta of 1.22.
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 of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.46%. Phillips 66’s payout ratio is 83.58%.
Institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its position in Phillips 66 by 6.4% in the second quarter. Cetera Investment Advisers now owns 8,889 shares of the oil and gas company’s stock valued at $733,000 after buying an additional 537 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Phillips 66 by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 3,806 shares of the oil and gas company’s stock valued at $315,000 after buying an additional 70 shares during the last quarter. Advisory Services Network LLC boosted its position in Phillips 66 by 6.9% in the second quarter. Advisory Services Network LLC now owns 9,720 shares of the oil and gas company’s stock valued at $804,000 after buying an additional 625 shares during the last quarter. Beaton Management Co. Inc. purchased a new position in Phillips 66 during the second quarter valued at $300,000. Finally, WINTON GROUP Ltd purchased a new position in Phillips 66 during the second quarter valued at $1,129,000. 69.57% of the stock is currently 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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