Q2 2024 EPS Estimates for Phillips 66 (NYSE:PSX) Lowered by Analyst

Phillips 66 (NYSE:PSXFree Report) – Research analysts at Zacks Research reduced their Q2 2024 earnings estimates for Phillips 66 in a research note issued to investors on Monday, June 10th. Zacks Research analyst R. Department now forecasts that the oil and gas company will earn $3.11 per share for the quarter, down from their previous forecast of $3.14. The consensus estimate for Phillips 66’s current full-year earnings is $12.16 per share. Zacks Research also issued estimates for Phillips 66’s Q4 2024 earnings at $2.95 EPS, Q1 2025 earnings at $3.16 EPS, Q2 2025 earnings at $3.50 EPS, Q4 2025 earnings at $3.27 EPS and FY2026 earnings at $13.81 EPS.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the prior year, the company earned $4.21 earnings per share.

Several other equities analysts have also recently weighed in on PSX. Piper Sandler decreased their target price on shares of Phillips 66 from $187.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. The Goldman Sachs Group boosted their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Raymond James lowered their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $158.93.

View Our Latest Stock Analysis on PSX

Phillips 66 Stock Up 0.0 %

PSX stock opened at $138.11 on Tuesday. The company has a market cap of $58.55 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 1.89 and a beta of 1.37. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The business has a 50 day moving average price of $150.14 and a two-hundred day moving average price of $143.51. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PSX. Crewe Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at about $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 in the 4th quarter valued at $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter valued at $28,000. Finally, First United Bank & Trust acquired a new position in shares of Phillips 66 during the 4th quarter valued at $31,000. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,864 shares of company stock worth $7,567,178. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is presently 35.38%.

Phillips 66 Company Profile

(Get Free Report)

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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

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