Zacks: Analysts Expect Phillips 66 (NYSE:PSX) Will Announce Earnings of $2.33 Per Share
Wall Street analysts expect Phillips 66 (NYSE:PSX) to post earnings of $2.33 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Phillips 66’s earnings, with estimates ranging from $2.00 to $2.67. Phillips 66 posted earnings per share of $3.10 during the same quarter last year, which indicates a negative year over year growth rate of 24.8%. The firm is scheduled to issue its next earnings results on Friday, July 26th.
On average, analysts expect that Phillips 66 will report full-year earnings of $7.44 per share for the current year, with EPS estimates ranging from $6.97 to $7.85. For the next fiscal year, analysts anticipate that the firm will report earnings of $10.42 per share, with EPS estimates ranging from $8.94 to $12.05. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts 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 EPS for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. The business had revenue of $28.52 billion during the quarter, compared to the consensus estimate of $29.89 billion. Phillips 66 had a return on equity of 19.88% and a net margin of 4.76%. During the same period last year, the firm earned $2.80 earnings per share.
In related news, Director John E. Lowe bought 2,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $82.91 per share, for a total transaction of $165,820.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.
A number of hedge funds have recently modified their holdings of PSX. SG Americas Securities LLC boosted its position in shares of Phillips 66 by 334.6% during the second quarter. SG Americas Securities LLC now owns 132,380 shares of the oil and gas company’s stock worth $12,383,000 after buying an additional 101,919 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Phillips 66 by 0.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,951,687 shares of the oil and gas company’s stock worth $182,561,000 after purchasing an additional 6,480 shares in the last quarter. Ledyard National Bank raised its holdings in Phillips 66 by 5.0% during the second quarter. Ledyard National Bank now owns 4,617 shares of the oil and gas company’s stock worth $432,000 after purchasing an additional 220 shares in the last quarter. Osborn Williams & Donohoe LLC raised its holdings in Phillips 66 by 8.7% during the second quarter. Osborn Williams & Donohoe LLC now owns 42,932 shares of the oil and gas company’s stock worth $4,016,000 after purchasing an additional 3,447 shares in the last quarter. Finally, Bailard Inc. raised its holdings in Phillips 66 by 3.2% during the second quarter. Bailard Inc. now owns 15,442 shares of the oil and gas company’s stock worth $1,444,000 after purchasing an additional 474 shares in the last quarter. Institutional investors own 70.14% of the company’s stock.
NYSE:PSX traded up $0.52 during mid-day trading on Wednesday, reaching $102.84. The stock had a trading volume of 570,927 shares, compared to its average volume of 2,476,399. The stock has a market cap of $46.16 billion, a P/E ratio of 8.78, a price-to-earnings-growth ratio of 2.12 and a beta of 1.08. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $123.97. The business has a 50 day simple moving average of $94.20. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders 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 dividend on an annualized basis and a yield of 3.50%. Phillips 66’s payout ratio is currently 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.
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