Phillips 66 (NYSE:PSX) – Equities researchers at Piper Jaffray Companies cut their Q2 2019 earnings estimates for shares of Phillips 66 in a research note issued to investors on Wednesday, May 15th. Piper Jaffray Companies analyst B. Fernandez now anticipates that the oil and gas company will post earnings per share of $2.24 for the quarter, down from their prior estimate of $2.59. Piper Jaffray Companies also issued estimates for Phillips 66’s Q3 2019 earnings at $1.97 EPS, FY2019 earnings at $6.51 EPS, Q2 2020 earnings at $2.98 EPS, Q3 2020 earnings at $3.11 EPS, Q4 2020 earnings at $3.03 EPS and FY2020 earnings at $10.89 EPS.
PSX has been the topic of several other research reports. Bank of America raised Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Monday, April 29th. They noted that the move was a valuation call. Argus dropped their price objective on Phillips 66 to $116.00 and set a “buy” rating on the stock in a research note on Thursday, February 14th. ValuEngine downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Citigroup raised their price objective on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Jefferies Financial Group downgraded Phillips 66 from a “buy” rating to a “hold” rating and raised their price objective for the stock from $105.00 to $107.00 in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $119.42.
Shares of Phillips 66 stock opened at $84.81 on Friday. The firm has a market cap of $39.60 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 1.38 and a beta of 0.91. Phillips 66 has a 12 month low of $78.44 and a 12 month high of $123.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. The business had revenue of $23.66 billion for the quarter, compared to analyst estimates of $24.66 billion. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. During the same period last year, the company earned $1.04 EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Oregon Public Employees Retirement Fund raised its stake in shares of Phillips 66 by 3,775.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,647,103 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 4,527,183 shares during the period. Norges Bank acquired a new stake in shares of Phillips 66 in the 4th quarter valued at about $386,757,000. LSV Asset Management raised its stake in shares of Phillips 66 by 96.9% in the 4th quarter. LSV Asset Management now owns 3,201,428 shares of the oil and gas company’s stock valued at $275,803,000 after purchasing an additional 1,575,744 shares during the period. AQR Capital Management LLC raised its stake in shares of Phillips 66 by 54.9% in the 1st quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock valued at $315,479,000 after purchasing an additional 1,181,277 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Phillips 66 by 7.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock valued at $1,175,542,000 after purchasing an additional 958,545 shares during the period. 71.83% of the stock is currently owned by hedge funds and other institutional investors.
In other Phillips 66 news, Chairman Greg C. Garland sold 42,728 shares of Phillips 66 stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total value of $4,170,680.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John E. Lowe purchased 2,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was purchased at an average cost of $84.41 per share, for a total transaction of $168,820.00. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $0.90 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, May 17th. This represents a $3.60 annualized dividend and a dividend yield of 4.24%. Phillips 66’s dividend payout ratio (DPR) is currently 27.33%.
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.
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