Zacks: Analysts Anticipate Phillips 66 (NYSE:PSX) to Announce $1.44 EPS

Equities analysts expect Phillips 66 (NYSE:PSX – Get Rating) to report earnings of $1.44 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Phillips 66’s earnings. The highest EPS estimate is $2.30 and the lowest is $1.15. Phillips 66 reported earnings of ($1.16) per share during the same quarter last year, which indicates a positive year over year growth rate of 224.1%. The firm is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Phillips 66 will report full-year earnings of $8.02 per share for the current fiscal year, with EPS estimates ranging from $6.99 to $9.59. For the next year, analysts expect that the firm will post earnings of $8.10 per share, with EPS estimates ranging from $6.81 to $9.11. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Phillips 66.

Phillips 66 (NYSE:PSX – Get Rating) last issued its earnings results on Friday, January 28th. The oil and gas company reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $1.01. The company had revenue of $33.57 billion during the quarter, compared to analyst estimates of $27.11 billion. Phillips 66 had a net margin of 1.15% and a return on equity of 12.11%. During the same quarter last year, the business posted ($1.16) EPS.

A number of equities research analysts have issued reports on PSX shares. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, January 31st. Zacks Investment Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating and set a $76.00 target price for the company. in a research note on Monday, December 20th. Bank of America lifted their target price on shares of Phillips 66 from $97.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, January 31st. Cowen lifted their target price on shares of Phillips 66 from $77.00 to $78.00 and gave the company a “market perform” rating in a research note on Tuesday, December 28th. Finally, Royal Bank of Canada lifted their price objective on shares of Phillips 66 from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Tuesday, February 1st. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $94.73.

Shares of NYSE:PSX opened at $82.85 on Friday. The firm has a fifty day moving average of $83.66 and a two-hundred day moving average of $80.12. The firm has a market capitalization of $39.86 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 0.92 and a beta of 1.51. Phillips 66 has a 12-month low of $63.19 and a 12-month high of $94.34. The company has a quick ratio of 0.88, a current ratio of 1.15 and a debt-to-equity ratio of 0.60.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Tuesday, February 22nd were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, February 18th. This represents a $3.68 annualized dividend and a dividend yield of 4.44%. Phillips 66’s payout ratio is 124.32%.

In other Phillips 66 news, EVP Robert A. Herman sold 8,169 shares of the business’s stock in a transaction dated Wednesday, February 2nd. The shares were sold at an average price of $85.87, for a total value of $701,472.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Paula Ann Johnson sold 12,000 shares of the business’s stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $90.03, for a total transaction of $1,080,360.00. The disclosure for this sale can be found here. In the last three months, insiders sold 146,469 shares of company stock worth $12,955,593. 0.74% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in PSX. Assenagon Asset Management S.A. acquired a new position in shares of Phillips 66 during the third quarter worth approximately $296,000. Fisher Asset Management LLC increased its stake in Phillips 66 by 33.3% in the third quarter. Fisher Asset Management LLC now owns 5,977 shares of the oil and gas company’s stock valued at $419,000 after purchasing an additional 1,493 shares in the last quarter. Financial Counselors Inc. increased its position in shares of Phillips 66 by 0.7% during the third quarter. Financial Counselors Inc. now owns 18,887 shares of the oil and gas company’s stock worth $1,323,000 after acquiring an additional 133 shares in the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Phillips 66 by 20.9% during the third quarter. Compagnie Lombard Odier SCmA now owns 25,749 shares of the oil and gas company’s stock worth $1,803,000 after acquiring an additional 4,457 shares in the last quarter. Finally, Community Bank N.A. grew its position in Phillips 66 by 2.2% in the third quarter. Community Bank N.A. now owns 13,517 shares of the oil and gas company’s stock valued at $947,000 after purchasing an additional 292 shares in the last quarter. Institutional investors own 67.65% of the company’s stock.

Phillips 66 Company Profile (Get Rating)

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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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.

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