Phillips 66 (PSX) Expected to Post Quarterly Sales of $32.04 Billion
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.
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.
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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