Brokerages Anticipate Phillips 66 (PSX) Will Post Earnings of $1.40 Per Share

Equities research analysts expect that Phillips 66 (NYSE:PSX) will post earnings of $1.40 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Phillips 66’s earnings. The highest EPS estimate is $1.76 and the lowest is $0.77. Phillips 66 posted earnings per share of $0.56 in the same quarter last year, which suggests a positive year-over-year growth rate of 150%. The business is expected to announce its next earnings report on Friday, February 2nd.

According to Zacks, analysts expect that Phillips 66 will report full-year earnings of $7.03 per share for the current year, with EPS estimates ranging from $5.40 to $8.89. For the next year, analysts anticipate that the business will post earnings of $7.15 per share, with EPS estimates ranging from $5.85 to $8.75. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Phillips 66.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.21. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The company had revenue of $30.12 billion for the quarter, compared to analysts’ expectations of $30.71 billion. During the same quarter last year, the business earned $0.16 earnings per share.

A number of research firms have issued reports on PSX. UBS Group lifted their target price on Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, November 15th. Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research report on Monday, November 13th. Wells Fargo & Co reiterated a “market perform” rating and issued a $91.00 target price (up previously from $84.00) on shares of Phillips 66 in a research report on Tuesday, October 17th. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Finally, Goldman Sachs Group upgraded Phillips 66 to a “buy” rating in a research report on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $99.78.

Shares of Phillips 66 (PSX) traded down $3.65 during midday trading on Friday, hitting $97.01. The company had a trading volume of 4,490,000 shares, compared to its average volume of 1,860,000. 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 52 week low of $75.14 and a 52 week high of $107.47. The company has a market capitalization of $49,160.00, a PE ratio of 24.44, a P/E/G ratio of 1.38 and a beta of 1.11.

Phillips 66 announced that its board has authorized a stock buyback program on Monday, October 9th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the sale, the vice president now directly owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of PSX. Beach Investment Management LLC. acquired a new position in shares of Phillips 66 in the second quarter worth approximately $1,693,000. Commonwealth Bank of Australia lifted its stake in shares of Phillips 66 by 10.6% in the second quarter. Commonwealth Bank of Australia now owns 177,656 shares of the oil and gas company’s stock worth $14,689,000 after acquiring an additional 16,988 shares during the period. CIBC World Markets Inc. lifted its stake in shares of Phillips 66 by 12.3% in the second quarter. CIBC World Markets Inc. now owns 31,839 shares of the oil and gas company’s stock worth $2,633,000 after acquiring an additional 3,482 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Phillips 66 by 0.9% in the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after acquiring an additional 71,098 shares during the period. Finally, HPM Partners LLC lifted its stake in shares of Phillips 66 by 2,218.2% in the second quarter. HPM Partners LLC now owns 59,670 shares of the oil and gas company’s stock worth $7,008,000 after acquiring an additional 57,096 shares during the period. 70.19% of the stock is currently owned by institutional investors.

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Phillips 66 Company Profile

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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