$32.08 Billion in Sales Expected for Phillips 66 (PSX) This Quarter

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.

PSX has been the subject of several research reports. Morgan Stanley reissued an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Howard Weil raised shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $86.00 to $98.00 in a report on Thursday, September 28th. Piper Jaffray Companies reissued a “buy” rating and set a $98.00 price objective on shares of Phillips 66 in a report on Tuesday, September 26th. Vetr raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target for the company in a report on Monday, October 16th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $112.00 price target on shares of Phillips 66 in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $96.66.

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.

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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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