US Capital Advisors Equities Analysts Reduce Earnings Estimates for Phillips 66 (NYSE:PSX)

Phillips 66 (NYSE:PSX) – US Capital Advisors dropped their Q3 2017 earnings per share estimates for Phillips 66 in a research report issued to clients and investors on Thursday. US Capital Advisors analyst C. Weiland now anticipates that the oil and gas company will post earnings of $1.50 per share for the quarter, down from their previous estimate of $1.58. US Capital Advisors has a “Buy” rating on the stock. US Capital Advisors also issued estimates for Phillips 66’s Q4 2017 earnings at $0.81 EPS, Q1 2018 earnings at $1.25 EPS, Q2 2018 earnings at $1.54 EPS, Q3 2018 earnings at $1.72 EPS, Q4 2018 earnings at $0.84 EPS and FY2018 earnings at $5.35 EPS.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.03 by $0.53. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. The company had revenue of $23.71 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same period in the prior year, the company earned $0.67 earnings per share.

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Other research analysts have also issued reports about the stock. Jefferies Group LLC set a $74.00 price target on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $84.00 price target on shares of Phillips 66 in a research note on Friday. Scotiabank reiterated a “hold” rating and set a $86.00 price target on shares of Phillips 66 in a research note on Tuesday, June 27th. BidaskClub upgraded shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $84.12.

Shares of Phillips 66 (NYSE:PSX) opened at 82.20 on Monday. The stock has a market capitalization of $42.42 billion, a price-to-earnings ratio of 25.50 and a beta of 1.23. The stock’s 50 day moving average is $78.80 and its 200 day moving average is $80.27. Phillips 66 has a 1-year low of $73.82 and a 1-year high of $88.87.

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after buying an additional 26,676,647 shares during the period. Norges Bank acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $465,132,000. OppenheimerFunds Inc. increased its stake in shares of Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock valued at $364,472,000 after buying an additional 3,943,299 shares during the period. Clearbridge Investments LLC increased its stake in shares of Phillips 66 by 4,771.9% in the first quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock valued at $112,983,000 after buying an additional 1,396,918 shares during the period. Finally, New England Asset Management Inc. purchased a new position in shares of Phillips 66 during the first quarter valued at about $104,095,000. 69.98% of the stock is currently owned by institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is presently 86.96%.

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.

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

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