Zacks: Analysts Anticipate Phillips 66 (NYSE:PSX) Will Post Quarterly Sales of $28.46 Billion

Analysts predict that Phillips 66 (NYSE:PSX) will report $28.46 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Phillips 66’s earnings, with the lowest sales estimate coming in at $25.33 billion and the highest estimate coming in at $30.60 billion. Phillips 66 reported sales of $29.74 billion in the same quarter last year, which would suggest a negative year over year growth rate of 4.3%. The company is scheduled to report its next quarterly earnings results before the market opens on Friday, July 26th.

According to Zacks, analysts expect that Phillips 66 will report full year sales of $108.66 billion for the current fiscal year, with estimates ranging from $106.08 billion to $112.03 billion. For the next financial year, analysts forecast that the firm will post sales of $127.34 billion, with estimates ranging from $117.67 billion to $138.46 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Phillips 66.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $24.66 billion. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. During the same period in the previous year, the firm posted $1.04 earnings per share.

A number of research firms recently issued reports on PSX. ValuEngine upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Raymond James boosted their target price on shares of Phillips 66 from $106.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley decreased their target price on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a research report on Friday, May 17th. Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and boosted their target price for the company from $105.00 to $107.00 in a research report on Monday, April 15th. Finally, Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $117.82.

In other news, Director John E. Lowe acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average price of $82.91 per share, for a total transaction of $165,820.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Harvest Group Wealth Management LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth about $31,000. TCG Advisors LP acquired a new position in shares of Phillips 66 during the 1st quarter worth about $38,000. Burt Wealth Advisors raised its position in shares of Phillips 66 by 285.7% during the 1st quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 300 shares during the last quarter. Sontag Advisory LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth about $41,000. Finally, Capital Financial Planning LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 69.98% of the company’s stock.

NYSE PSX traded up $0.41 on Wednesday, reaching $98.13. 226,655 shares of the company’s stock traded hands, compared to its average volume of 2,733,736. The stock has a market cap of $44.32 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 1.61 and a beta of 1.08. The business has a 50 day moving average of $88.01. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week 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.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.67%. Phillips 66’s dividend payout ratio (DPR) is currently 30.74%.

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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