Q4 2022 EPS Estimates for Phillips 66 Decreased by Jefferies Financial Group (NYSE:PSX)

Phillips 66 (NYSE:PSXGet Rating) – Equities researchers at Jefferies Financial Group dropped their Q4 2022 earnings per share (EPS) estimates for shares of Phillips 66 in a research report issued to clients and investors on Sunday, November 20th. Jefferies Financial Group analyst L. Byrne now forecasts that the oil and gas company will post earnings per share of $4.30 for the quarter, down from their prior forecast of $4.56. Jefferies Financial Group currently has a “Hold” rating and a $105.00 target price on the stock. The consensus estimate for Phillips 66’s current full-year earnings is $20.11 per share. Jefferies Financial Group also issued estimates for Phillips 66’s Q2 2023 earnings at $2.72 EPS and Q2 2024 earnings at $2.14 EPS.

Several other equities analysts also recently issued reports on the company. Raymond James lifted their price objective on Phillips 66 from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, November 10th. Wolfe Research downgraded Phillips 66 from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, September 14th. Piper Sandler boosted their target price on Phillips 66 from $116.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 9th. Morgan Stanley boosted their target price on Phillips 66 from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, November 7th. Finally, Wells Fargo & Company boosted their target price on Phillips 66 from $123.00 to $134.00 in a research report on Thursday, November 3rd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.73.

Phillips 66 Trading Up 3.0 %

Shares of PSX opened at $112.29 on Tuesday. The stock has a fifty day moving average price of $95.73 and a two-hundred day moving average price of $92.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.30. Phillips 66 has a 52-week low of $67.08 and a 52-week high of $113.53. The company has a market cap of $53.07 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 0.31 and a beta of 1.44.

Phillips 66 (NYSE:PSXGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The oil and gas company reported $6.46 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $1.64. Phillips 66 had a return on equity of 32.66% and a net margin of 6.18%. During the same quarter last year, the business posted $3.18 EPS.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Wednesday, November 16th. Phillips 66’s dividend payout ratio is currently 17.75%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 600 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $110.68, for a total value of $66,408.00. Following the sale, the vice president now owns 15,302 shares of the company’s stock, valued at approximately $1,693,625.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PSX. Dravo Bay LLC bought a new position in Phillips 66 during the 1st quarter worth $26,000. WFA of San Diego LLC acquired a new stake in Phillips 66 during the 2nd quarter worth about $25,000. Hallmark Capital Management Inc. grew its holdings in Phillips 66 by 62.5% during the 3rd quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 125 shares during the period. GoalVest Advisory LLC acquired a new stake in Phillips 66 during the 2nd quarter worth about $28,000. Finally, Heritage Financial Services LLC acquired a new stake in Phillips 66 during the 2nd quarter worth about $28,000. 71.42% of the stock is currently owned by institutional investors.

About Phillips 66

(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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Earnings History and Estimates for Phillips 66 (NYSE:PSX)

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