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.
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