FY2017 EPS Estimates for Phillips 66 Raised by US Capital Advisors (PSX)
Phillips 66 (NYSE:PSX) – Equities researchers at US Capital Advisors increased their FY2017 EPS estimates for Phillips 66 in a report issued on Monday. US Capital Advisors analyst C. Weiland now expects that the oil and gas company will post earnings of $4.63 per share for the year, up from their prior estimate of $4.56. US Capital Advisors currently has a “Hold” rating on the stock. US Capital Advisors also issued estimates for Phillips 66’s Q3 2018 earnings at $1.89 EPS and FY2018 earnings at $5.80 EPS.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The firm had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. During the same period last year, the firm posted $1.05 EPS.
A number of other research firms have also recently weighed in on PSX. Jefferies Group cut Phillips 66 from a “hold” rating to an “underperform” rating and dropped their price target for the company from $95.00 to $75.14 in a report on Monday, October 16th. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Argus reaffirmed a “buy” rating and set a $108.00 price target (up from $96.00) on shares of Phillips 66 in a report on Thursday, October 12th. Piper Jaffray Companies set a $93.00 price objective on Phillips 66 and gave the company a “buy” rating in a research report on Monday, November 13th. Finally, Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective on the stock in a research report on Monday, November 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $93.25.
Shares of Phillips 66 (PSX) opened at $97.86 on Wednesday. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $99.35. The firm has a market capitalization of $49,710.00, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.52 and a beta of 1.24. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock worth $2,631,704,000 after purchasing an additional 130,653 shares during the last quarter. BlackRock Inc. boosted its position in shares of Phillips 66 by 0.7% in the 2nd quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock worth $2,317,389,000 after purchasing an additional 203,138 shares during the last quarter. State Street Corp boosted its position in shares of Phillips 66 by 4.0% in the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after purchasing an additional 921,895 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Phillips 66 by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after purchasing an additional 71,098 shares during the last quarter. Finally, FMR LLC lifted its holdings in Phillips 66 by 37.1% during the second quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock worth $621,890,000 after acquiring an additional 2,036,258 shares in the last quarter. Institutional investors and hedge funds own 70.24% of the company’s stock.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.86%. Phillips 66’s payout ratio is 70.53%.
Phillips 66 declared that its board has authorized a stock buyback program on Monday, October 9th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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