Phillips 66 (NYSE:PSX) – Jefferies Financial Group raised their FY2019 earnings estimates for shares of Phillips 66 in a research note issued on Wednesday, December 18th. Jefferies Financial Group analyst C. Sighinolfi now expects that the oil and gas company will post earnings of $9.13 per share for the year, up from their previous forecast of $8.58. Jefferies Financial Group also issued estimates for Phillips 66’s Q1 2020 earnings at $1.87 EPS, Q3 2020 earnings at $2.98 EPS, Q4 2020 earnings at $2.98 EPS, FY2020 earnings at $10.81 EPS, FY2021 earnings at $9.45 EPS, FY2022 earnings at $8.98 EPS and FY2023 earnings at $10.13 EPS.
Other research analysts have also issued research reports about the company. Raymond James increased their target price on Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Macquarie assumed coverage on Phillips 66 in a research note on Thursday, September 5th. They issued an “outperform” rating for the company. Zacks Investment Research lowered Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, October 29th. ValuEngine cut Phillips 66 from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 3rd. Finally, Cowen increased their price objective on Phillips 66 from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $119.80.
Phillips 66 stock opened at $113.35 on Friday. The stock’s 50 day simple moving average is $115.74 and its two-hundred day simple moving average is $103.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.29. The stock has a market cap of $50.13 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 1.97 and a beta of 1.11. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week high of $119.92.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 25th. The oil and gas company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.51. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. The company had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $28.31 billion. During the same quarter in the previous year, the company earned $3.10 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $3.60 annualized dividend and a dividend yield of 3.18%. Phillips 66’s payout ratio is 30.74%.
In other news, VP Chukwuemeka A. Oyolu sold 464 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $119.53, for a total value of $55,461.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Securian Asset Management Inc increased its stake in Phillips 66 by 0.3% during the 2nd quarter. Securian Asset Management Inc now owns 43,029 shares of the oil and gas company’s stock valued at $4,025,000 after purchasing an additional 115 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Phillips 66 by 2.6% during the second quarter. CIBC Asset Management Inc now owns 45,388 shares of the oil and gas company’s stock valued at $4,246,000 after acquiring an additional 1,160 shares in the last quarter. FTB Advisors Inc. raised its holdings in Phillips 66 by 5.5% in the 2nd quarter. FTB Advisors Inc. now owns 3,537 shares of the oil and gas company’s stock worth $330,000 after acquiring an additional 184 shares during the last quarter. Heritage Wealth Advisors lifted its position in Phillips 66 by 68.5% in the 2nd quarter. Heritage Wealth Advisors now owns 401 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 163 shares in the last quarter. Finally, Homrich & Berg lifted its position in Phillips 66 by 37.7% in the 2nd quarter. Homrich & Berg now owns 5,989 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 1,640 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.
Phillips 66 Company Profile
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.