Phillips 66 (NYSE:PSX) – Research analysts at Jefferies Financial Group cut their FY2019 earnings estimates for Phillips 66 in a note issued to investors on Thursday, January 16th. Jefferies Financial Group analyst C. Sighinolfi now forecasts that the oil and gas company will post earnings of $8.17 per share for the year, down from their prior estimate of $9.13. Jefferies Financial Group also issued estimates for Phillips 66’s Q4 2019 earnings at $1.64 EPS, Q1 2020 earnings at $1.86 EPS, Q2 2020 earnings at $2.97 EPS, Q3 2020 earnings at $2.95 EPS, Q4 2020 earnings at $2.70 EPS, FY2020 earnings at $10.47 EPS, FY2021 earnings at $9.10 EPS, FY2022 earnings at $8.63 EPS and FY2023 earnings at $9.90 EPS.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.51. The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $28.31 billion. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. During the same period in the prior year, the company posted $3.10 EPS.
Several other equities research analysts have also weighed in on the stock. Barclays began coverage on shares of Phillips 66 in a research note on Tuesday, January 14th. They set an “overweight” rating and a $122.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Phillips 66 from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Zacks Investment Research lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Tuesday, October 29th. Raymond James dropped their price objective on shares of Phillips 66 from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. Finally, Cowen increased their price objective on shares of Phillips 66 from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Phillips 66 currently has a consensus rating of “Buy” and a consensus target price of $122.17.
Shares of PSX stock opened at $103.31 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.29. Phillips 66 has a one year low of $80.24 and a one year high of $119.92. The company’s 50-day simple moving average is $110.04 and its 200-day simple moving average is $106.44. The stock has a market capitalization of $45.91 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.59 and a beta of 1.09.
In related news, VP Chukwuemeka A. Oyolu sold 464 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $119.53, for a total value of $55,461.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PSX. Nuveen Asset Management LLC raised its holdings in shares of Phillips 66 by 3,861.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,744,797 shares of the oil and gas company’s stock valued at $350,288,000 after purchasing an additional 3,650,256 shares in the last quarter. Waddell & Reed Financial Inc. boosted its position in shares of Phillips 66 by 248.3% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,511,127 shares of the oil and gas company’s stock valued at $141,351,000 after acquiring an additional 1,077,246 shares in the last quarter. State Street Corp boosted its position in shares of Phillips 66 by 4.9% during the 3rd quarter. State Street Corp now owns 22,727,392 shares of the oil and gas company’s stock valued at $2,327,285,000 after acquiring an additional 1,064,558 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Phillips 66 by 5,197.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 764,938 shares of the oil and gas company’s stock valued at $85,222,000 after buying an additional 750,499 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Phillips 66 in the third quarter valued at about $47,594,000. Institutional investors own 68.34% of the company’s stock.
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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