Brokerages expect Phillips 66 (NYSE:PSX) to post $32.04 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Phillips 66’s earnings, with the lowest sales estimate coming in at $28.22 billion and the highest estimate coming in at $38.93 billion. Phillips 66 reported sales of $23.67 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 35.4%. The business is scheduled to announce its next quarterly earnings report on Friday, February 2nd.

According to Zacks, analysts expect that Phillips 66 will report full year sales of $32.04 billion for the current year, with estimates ranging from $98.44 billion to $113.43 billion. For the next year, analysts anticipate that the business will post sales of $115.70 billion per share, with estimates ranging from $97.49 billion to $141.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Phillips 66.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The firm had revenue of $26.21 billion during the quarter, compared to the consensus estimate of $29.94 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share.

PSX has been the subject of several research analyst reports. UBS lifted their price target on shares of Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, November 15th. BidaskClub downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Vetr downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price target for the company. in a research note on Thursday, November 2nd. Jefferies Group downgraded shares of Phillips 66 from a “hold” rating to an “underperform” rating and decreased their price target for the company from $95.00 to $75.14 in a research note on Monday, October 16th. Finally, Scotiabank reaffirmed a “hold” rating on shares of Phillips 66 in a research note on Friday, September 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $93.25.

Phillips 66 (PSX) traded up $2.65 during trading on Thursday, hitting $97.56. 3,330,523 shares of the stock traded hands, compared to its average volume of 2,206,946. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. Phillips 66 has a 1 year low of $75.14 and a 1 year high of $97.69. The company has a market capitalization of $48,107.59, a P/E ratio of 27.10, a PEG ratio of 2.42 and a beta of 1.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is 70.18%.

Phillips 66 declared that its Board of Directors has approved a share repurchase program on Monday, October 9th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

A number of large investors have recently modified their holdings of PSX. Chicago Partners Investment Group LLC increased its position in shares of Phillips 66 by 208.1% during the third quarter. Chicago Partners Investment Group LLC now owns 2,785 shares of the oil and gas company’s stock worth $255,000 after purchasing an additional 1,881 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Phillips 66 during the third quarter worth $4,826,000. Visionary Asset Management Inc. acquired a new position in shares of Phillips 66 during the third quarter worth $214,000. Public Employees Retirement System of Ohio increased its position in shares of Phillips 66 by 5.2% during the third quarter. Public Employees Retirement System of Ohio now owns 317,056 shares of the oil and gas company’s stock worth $29,046,000 after purchasing an additional 15,689 shares in the last quarter. Finally, Energy Opportunities Capital Management LLC acquired a new position in shares of Phillips 66 during the third quarter worth $2,029,000. 70.19% of the stock is owned by institutional investors.

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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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Earnings History and Estimates for Phillips 66 (NYSE:PSX)

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