Phillips 66 FY2024 EPS Forecast Lowered by Zacks Research

Phillips 66 (NYSE:PSX) – Equities research analysts at Zacks Research reduced their FY2024 earnings estimates for Phillips 66 in a research note issued to investors on Monday, January 27th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings of $6.46 per share for the year, down from their prior forecast of $6.52. The consensus estimate for Phillips 66’s current full-year earnings is $6.41 per share. Zacks Research also issued estimates for Phillips 66’s Q4 2024 earnings at $0.21 EPS, Q1 2025 earnings at $0.69 EPS, Q2 2025 earnings at $2.47 EPS, Q3 2025 earnings at $2.26 EPS, Q4 2025 earnings at $1.50 EPS, FY2025 earnings at $6.93 EPS, Q1 2026 earnings at $2.84 EPS, Q2 2026 earnings at $3.10 EPS, Q3 2026 earnings at $2.59 EPS, Q4 2026 earnings at $2.79 EPS and FY2026 earnings at $11.33 EPS.

PSX has been the topic of a number of other research reports. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays cut their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Trading Down 1.6 %

Shares of PSX opened at $121.13 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The stock has a market cap of $50.02 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. The firm has a 50 day simple moving average of $121.46 and a 200-day simple moving average of $128.94.

Phillips 66 (NYSE:PSX) last announced 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. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.63 earnings per share.

Institutional Trading of Phillips 66

A number of institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after buying an additional 16,941 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after acquiring an additional 633,970 shares in the last quarter. ING Groep NV increased its holdings in Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares in the last quarter. Finally, National Pension Service raised its position in Phillips 66 by 6.8% in the third quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock valued at $131,678,000 after purchasing an additional 63,349 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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.