Phillips 66 (NYSE:PSX) – Equities researchers at Piper Jaffray Companies upped their Q2 2019 earnings estimates for shares of Phillips 66 in a research note issued on Tuesday, February 19th. Piper Jaffray Companies analyst B. Fernandez now expects that the oil and gas company will post earnings of $2.58 per share for the quarter, up from their previous estimate of $2.51. Piper Jaffray Companies has a “Overweight” rating on the stock. Piper Jaffray Companies also issued estimates for Phillips 66’s Q3 2019 earnings at $2.67 EPS, Q4 2019 earnings at $1.69 EPS, FY2019 earnings at $7.95 EPS, Q1 2020 earnings at $1.72 EPS, Q2 2020 earnings at $3.39 EPS, Q3 2020 earnings at $3.51 EPS and FY2020 earnings at $11.24 EPS.
PSX has been the subject of several other research reports. Wells Fargo & Co raised their target price on Phillips 66 from $137.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, October 29th. Raymond James cut their target price on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, December 31st. Argus cut their target price on Phillips 66 to $116.00 and set a “buy” rating for the company in a research report on Thursday, February 14th. JPMorgan Chase & Co. upgraded Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 target price for the company in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research restated a “buy” rating and set a $113.00 target price on shares of Phillips 66 in a research report on Wednesday, November 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Phillips 66 has an average rating of “Hold” and a consensus target price of $121.08.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, February 8th. The oil and gas company reported $4.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $2.11. The business had revenue of $29.84 billion during the quarter, compared to the consensus estimate of $35.51 billion. Phillips 66 had a return on equity of 22.18% and a net margin of 4.90%. During the same quarter last year, the company earned $1.07 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Tuesday, February 19th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, February 15th. This represents a $3.20 annualized dividend and a yield of 3.31%. Phillips 66’s payout ratio is 27.33%.
In other Phillips 66 news, Chairman Greg C. Garland sold 42,728 shares of Phillips 66 stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.56% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Moody National Bank Trust Division raised its position in Phillips 66 by 425.4% in the 4th quarter. Moody National Bank Trust Division now owns 352 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 285 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Phillips 66 in the 4th quarter valued at $37,000. Proficio Capital Partners LLC raised its position in Phillips 66 by 46.1% in the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 137 shares during the last quarter. Truehand Inc acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $40,000. Finally, Massey Quick Simon & CO. LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 70.02% of the company’s stock.
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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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