$32.38 Billion in Sales Expected for Phillips 66 (PSX) This Quarter

Equities analysts expect Phillips 66 (NYSE:PSX) to announce $32.38 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Phillips 66’s earnings, with the highest sales estimate coming in at $38.89 billion and the lowest estimate coming in at $28.33 billion. Phillips 66 posted sales of $23.67 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 36.8%. The firm is expected to issue its next quarterly earnings report on Friday, February 2nd.

On average, analysts expect that Phillips 66 will report full-year sales of $32.38 billion for the current fiscal year, with estimates ranging from $97.75 billion to $113.39 billion. For the next year, analysts anticipate that the firm will report sales of $115.40 billion per share, with estimates ranging from $96.65 billion to $141.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Phillips 66.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same period in the previous year, the business earned $1.05 EPS.

A number of research analysts recently commented on PSX shares. UBS Group upped their price target on shares of Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, November 15th. Wells Fargo & Co reiterated a “market perform” rating and issued a $91.00 price target (up previously from $84.00) on shares of Phillips 66 in a research note on Tuesday, October 17th. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target on the stock in a research note on Monday, November 13th. Howard Weil upgraded shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $86.00 to $98.00 in a research note on Thursday, September 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $95.19.

In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the sale, the vice president now owns 2,700 shares of the company’s stock, valued at approximately $270,675. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Barnett & Company Inc. lifted its stake in Phillips 66 by 8.0% in the 2nd quarter. Barnett & Company Inc. now owns 2,025 shares of the oil and gas company’s stock valued at $167,000 after purchasing an additional 150 shares during the last quarter. Ingalls & Snyder LLC lifted its stake in Phillips 66 by 2.1% in the 2nd quarter. Ingalls & Snyder LLC now owns 55,965 shares of the oil and gas company’s stock valued at $4,628,000 after purchasing an additional 1,163 shares during the last quarter. Ronald Blue & Co. LLC increased its position in Phillips 66 by 1.6% in the 2nd quarter. Ronald Blue & Co. LLC now owns 2,580 shares of the oil and gas company’s stock valued at $213,000 after acquiring an additional 40 shares during the period. Bank of Stockton increased its position in Phillips 66 by 12.6% in the 2nd quarter. Bank of Stockton now owns 3,092 shares of the oil and gas company’s stock valued at $255,000 after acquiring an additional 345 shares during the period. Finally, Gamble Jones Investment Counsel increased its position in Phillips 66 by 0.6% in the 2nd quarter. Gamble Jones Investment Counsel now owns 10,556 shares of the oil and gas company’s stock valued at $873,000 after acquiring an additional 65 shares during the period. 70.12% of the stock is owned by institutional investors.

Phillips 66 (PSX) traded down $0.28 during trading on Thursday, hitting $102.15. 1,104,146 shares of the stock traded hands, compared to its average volume of 1,287,000. The firm has a market cap of $51,760.00, a price-to-earnings ratio of 25.73, a PEG ratio of 1.62 and a beta of 1.24. Phillips 66 has a one year low of $75.14 and a one year high of $102.80. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40.

Phillips 66 announced that its Board of Directors has authorized a share buyback program on Monday, October 9th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: “$32.38 Billion in Sales Expected for Phillips 66 (PSX) This Quarter” was reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://transcriptdaily.com/2018/01/04/32-38-billion-in-sales-expected-for-phillips-66-psx-this-quarter.html.

Phillips 66 Company Profile

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.

Get a free copy of the Zacks research report on Phillips 66 (PSX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply