$1.24 Earnings Per Share Expected for Phillips 66 (PSX) This Quarter

Analysts expect Phillips 66 (NYSE:PSX) to report earnings of $1.24 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Phillips 66’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $1.65. Phillips 66 reported earnings per share of $0.16 in the same quarter last year, which would suggest a positive year over year growth rate of 675%. The company is scheduled to report its next quarterly earnings report on Friday, February 2nd.

On average, analysts expect that Phillips 66 will report full-year earnings of $4.59 per share for the current fiscal year, with EPS estimates ranging from $4.17 to $5.01. For the next financial year, analysts forecast that the firm will post earnings of $6.22 per share, with EPS estimates ranging from $4.90 to $7.50. Zacks Investment Research’s earnings per share calculations are a mean 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 data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, beating 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 company had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. During the same quarter in the previous year, the business earned $1.05 EPS.

A number of equities analysts recently issued reports on the company. Barclays set a $95.00 price objective on Phillips 66 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Scotiabank restated a “hold” rating on shares of Phillips 66 in a report on Friday, September 8th. Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a report on Monday, October 16th. Jefferies Group restated a “hold” rating and set a $78.00 price objective on shares of Phillips 66 in a report on Tuesday, September 5th. Finally, BidaskClub cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $93.25.

Phillips 66 (NYSE PSX) opened at $99.92 on Friday. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $100.46. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $50,920.90, a price-to-earnings ratio of 28.69, a P/E/G ratio of 2.56 and a beta of 1.24.

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

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, November 16th. Phillips 66’s dividend payout ratio is 70.18%.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was 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 can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL purchased a new stake in shares of Phillips 66 during the 1st quarter worth $841,000. Credit Suisse AG lifted its stake in shares of Phillips 66 by 1.4% during the 1st quarter. Credit Suisse AG now owns 774,567 shares of the oil and gas company’s stock worth $61,361,000 after purchasing an additional 10,730 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Phillips 66 by 51.0% during the 1st quarter. IHT Wealth Management LLC now owns 2,123 shares of the oil and gas company’s stock worth $165,000 after purchasing an additional 717 shares during the last quarter. First Financial Equity Corporation purchased a new stake in shares of Phillips 66 during the 1st quarter worth $247,000. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Phillips 66 by 9.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 15,027 shares of the oil and gas company’s stock worth $1,190,000 after purchasing an additional 1,348 shares during the last quarter. Institutional investors and hedge funds own 70.24% of the company’s stock.

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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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