Wall Street brokerages predict that Phillips 66 (NYSE:PSX) will report earnings of $1.60 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Phillips 66’s earnings, with estimates ranging from $1.29 to $2.03. Phillips 66 posted earnings of $1.05 per share in the same quarter last year, which suggests a positive year over year growth rate of 52.4%. The firm is expected to report its next quarterly earnings report before the market opens on Friday, October 27th.
According to Zacks, analysts expect that Phillips 66 will report full year earnings of $4.46 per share for the current financial year, with EPS estimates ranging from $3.95 to $5.01. For the next fiscal year, analysts expect that the business will report earnings of $5.84 per share, with EPS estimates ranging from $4.84 to $7.00. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Phillips 66.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The firm had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. During the same period last year, the firm earned $0.94 earnings per share.
Several equities research analysts recently weighed in on PSX shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $84.00 target price on shares of Phillips 66 in a research note on Friday, July 14th. Scotiabank reaffirmed a “hold” rating on shares of Phillips 66 in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and upped their target price for the stock from $88.00 to $109.00 in a research note on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $93.22.
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In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Guardian Life Insurance Co. of America boosted its stake in Phillips 66 by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock worth $135,000 after purchasing an additional 11 shares during the period. Joel Isaacson & Co. LLC boosted its stake in Phillips 66 by 0.4% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 3,821 shares of the oil and gas company’s stock worth $316,000 after purchasing an additional 14 shares during the period. Hudock Capital Group LLC boosted its stake in Phillips 66 by 0.6% during the 2nd quarter. Hudock Capital Group LLC now owns 2,509 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 16 shares during the period. Good Life Advisors LLC boosted its stake in Phillips 66 by 0.3% during the 2nd quarter. Good Life Advisors LLC now owns 6,198 shares of the oil and gas company’s stock worth $511,000 after purchasing an additional 17 shares during the period. Finally, Northwest Quadrant Wealth Management LLC boosted its stake in Phillips 66 by 0.6% during the 1st quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 69.54% of the company’s stock.
Phillips 66 (NYSE PSX) traded up 0.45% during trading on Friday, hitting $90.80. 2,109,754 shares of the stock were exchanged. The stock has a market cap of $46.45 billion, a P/E ratio of 27.17 and a beta of 1.19. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $95.00. The stock’s 50 day moving average price is $89.57 and its 200 day moving average price is $82.71.
Phillips 66 declared that its Board of Directors has initiated a stock repurchase plan on Monday, October 9th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, November 16th. Phillips 66’s payout ratio is 83.58%.
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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