Zacks Research Weighs in on Phillips 66 FY2024 Earnings

Phillips 66 (NYSE:PSX) – Stock analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for shares of Phillips 66 in a research report issued to clients and investors on Monday, November 18th. Zacks Research analyst R. Department expects that the oil and gas company will post earnings of $7.05 per share 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.

Other equities analysts have also recently issued research reports about the company. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Morgan Stanley decreased their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday, October 17th. Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, UBS Group reduced their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Up 0.3 %

Shares of NYSE:PSX opened at $131.90 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1 year low of $114.94 and a 1 year high of $174.08. The stock has a market capitalization of $54.47 billion, a P/E ratio of 16.93, a PEG ratio of 4.29 and a beta of 1.33. The stock has a 50-day simple moving average of $130.15 and a 200-day simple moving average of $135.50.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the business earned $4.63 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis.

Institutional Investors Weigh In On Phillips 66

Several large investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter worth $25,000. nVerses Capital LLC bought a new position in shares of Phillips 66 in the third quarter worth $26,000. Bank & Trust Co bought a new position in shares of Phillips 66 in the second quarter worth $31,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 in the third quarter worth $30,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 in the second quarter worth $34,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.49%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

Phillips 66 Company Profile

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.