Zacks Research Weighs in on Phillips 66 FY2024 Earnings

Phillips 66 (NYSE:PSX - Free Report) - Analysts at Zacks Research issued their FY2024 EPS estimates for Phillips 66 in a research note issued on Monday, November 18th. Zacks Research analyst R. Department expects that the oil and gas company will post earnings per share of $7.05 for the year. The consensus estimate for Phillips 66's current full-year earnings is $7.63 per share. Zacks Research also issued estimates for Phillips 66's Q4 2024 earnings at $0.80 EPS, Q1 2025 earnings at $1.75 EPS, Q3 2025 earnings at $2.73 EPS, Q1 2026 earnings at $3.40 EPS, Q2 2026 earnings at $3.69 EPS and FY2026 earnings at $13.82 EPS.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.63 earnings per share.

A number of other research analysts have also weighed in on PSX. Scotiabank dropped their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Mizuho dropped their price target on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price objective for the company. TD Cowen dropped their price objective on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Finally, Barclays cut their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $149.69.

Phillips 66 Stock Performance

NYSE PSX opened at $131.41 on Thursday. The company has a market cap of $54.27 billion, a P/E ratio of 16.87, a PEG ratio of 4.29 and a beta of 1.33. The company has a fifty day simple moving average of $130.03 and a 200 day simple moving average of $135.52. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $114.94 and a 12-month high of $174.08.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter worth $25,000. Strategic Financial Concepts LLC purchased a new position in Phillips 66 in the second quarter worth $26,000. nVerses Capital LLC bought a new position in Phillips 66 in the third quarter valued at $26,000. Values First Advisors Inc. purchased a new stake in Phillips 66 during the third quarter valued at about $30,000. Finally, Bank & Trust Co purchased a new stake in Phillips 66 during the second quarter valued at about $31,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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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