Equities research analysts predict that Phillips 66 (NYSE:PSX) will announce $28.13 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Phillips 66’s earnings, with the highest sales estimate coming in at $29.02 billion and the lowest estimate coming in at $26.71 billion. Phillips 66 posted sales of $30.59 billion in the same quarter last year, which would indicate a negative year over year growth rate of 8%. The business is scheduled to report its next quarterly earnings report on Friday, October 25th.
On average, analysts expect that Phillips 66 will report full-year sales of $109.36 billion for the current financial year, with estimates ranging from $109.03 billion to $109.56 billion. For the next year, analysts forecast that the business will post sales of $126.43 billion, with estimates ranging from $114.66 billion to $139.79 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Phillips 66.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.32. The business had revenue of $28.52 billion for the quarter, compared to analyst estimates of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same period in the prior year, the company posted $2.80 EPS.
Several equities research analysts recently issued reports on PSX shares. Raymond James upped their price target on Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Morgan Stanley dropped their price target on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. Cowen upped their price target on Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Bank of America raised Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price target on the stock in a research report on Monday, April 29th. They noted that the move was a valuation call. Finally, ValuEngine lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $117.64.
In other Phillips 66 news, Director John E. Lowe purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $82.91 per share, with a total value of $165,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PSX. Geode Capital Management LLC grew its position in shares of Phillips 66 by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 5,386,724 shares of the oil and gas company’s stock worth $463,230,000 after buying an additional 396,796 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth approximately $515,000. Pennsylvania Trust Co grew its position in shares of Phillips 66 by 0.5% in the 1st quarter. Pennsylvania Trust Co now owns 86,074 shares of the oil and gas company’s stock worth $8,192,000 after buying an additional 454 shares during the last quarter. Community Bank & Trust Waco Texas grew its position in shares of Phillips 66 by 1.3% in the 1st quarter. Community Bank & Trust Waco Texas now owns 12,228 shares of the oil and gas company’s stock worth $1,164,000 after buying an additional 160 shares during the last quarter. Finally, E&G Advisors LP grew its position in shares of Phillips 66 by 52.0% in the 1st quarter. E&G Advisors LP now owns 3,800 shares of the oil and gas company’s stock worth $362,000 after buying an additional 1,300 shares during the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.
Shares of PSX stock traded down $3.28 on Friday, hitting $95.18. 2,253,205 shares of the stock traded hands, compared to its average volume of 2,208,428. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. The company has a market capitalization of $44.16 billion, a PE ratio of 8.13, a PEG ratio of 1.93 and a beta of 1.10. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $121.54. The company’s fifty day moving average is $99.89 and its 200 day moving average is $94.23.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.60 annualized dividend and a dividend yield of 3.78%. Phillips 66’s payout ratio is 30.74%.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
Further Reading: Technical Analysis of Stocks and What It Means
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.