Equities analysts predict that Phillips 66 (NYSE:PSX) will post $32.08 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Phillips 66’s earnings, with estimates ranging from $28.36 billion to $37.95 billion. Phillips 66 posted sales of $23.67 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 35.5%. The firm is scheduled to announce its next earnings results before the market opens on Friday, February 2nd.
On average, analysts expect that Phillips 66 will report full-year sales of $32.08 billion for the current year, with estimates ranging from $97.01 billion to $112.44 billion. For the next year, analysts forecast that the firm will report sales of $115.79 billion per share, with estimates ranging from $98.00 billion to $141.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Phillips 66.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The business had revenue of $26.21 billion during the quarter, compared to analyst estimates of $29.94 billion. During the same quarter in the prior year, the business posted $1.05 EPS.
Shares of Phillips 66 (NYSE:PSX) opened at $105.63 on Friday. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $106.91. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $53,530.00, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24.
Phillips 66 declared that its board has initiated a share repurchase plan on Monday, October 9th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the transaction, the vice president now directly owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $1,732,000. Diversified Trust Co acquired a new position in Phillips 66 during the fourth quarter worth about $226,000. State of Alaska Department of Revenue boosted its position in Phillips 66 by 61.5% during the fourth quarter. State of Alaska Department of Revenue now owns 99,076 shares of the oil and gas company’s stock worth $10,018,000 after acquiring an additional 37,740 shares during the last quarter. Oakbrook Investments LLC acquired a new position in Phillips 66 during the fourth quarter worth about $1,568,000. Finally, Acadian Asset Management LLC boosted its position in Phillips 66 by 94.5% during the fourth quarter. Acadian Asset Management LLC now owns 668,397 shares of the oil and gas company’s stock worth $67,606,000 after acquiring an additional 324,680 shares during the last quarter. 70.12% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.