Zacks Research Weighs in on Phillips 66 FY2024 Earnings

Phillips 66 (NYSE:PSX) – Research analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for Phillips 66 in a research report 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.

A number of other brokerages also recently weighed in on PSX. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Scotiabank lowered their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Bank of America started coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, Raymond James raised their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Price Performance

Shares of PSX stock opened at $131.90 on Thursday. Phillips 66 has a 1-year low of $114.94 and a 1-year high of $174.08. The stock’s 50-day moving average is $130.15 and its 200 day moving average is $135.50. The company has a market cap of $54.47 billion, a P/E ratio of 16.93, a PEG ratio of 4.29 and a beta of 1.33. 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 (NYSE:PSX) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the company earned $4.63 EPS. The business’s revenue was down 10.3% compared to the same quarter last year.

Institutional Investors Weigh In On Phillips 66

Hedge funds have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new stake in Phillips 66 in the first quarter valued at $25,000. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 in the second quarter valued at $26,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the third quarter valued at $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 in the third quarter valued at $30,000. Finally, Bank & Trust Co purchased a new position in shares of Phillips 66 in the second quarter valued at $31,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is currently 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.