Scotiabank Estimates Phillips 66 FY2024 Earnings

Phillips 66 (NYSE:PSX) – Analysts at Scotiabank issued their FY2024 EPS estimates for Phillips 66 in a report released on Wednesday, January 8th. Scotiabank analyst P. Cheng expects that the oil and gas company will post earnings of $7.80 per share for the year. Scotiabank has a “Sector Outperform” rating and a $136.00 price objective on the stock. The consensus estimate for Phillips 66’s current full-year earnings is $7.56 per share. Scotiabank also issued estimates for Phillips 66’s FY2025 earnings at $9.75 EPS.

PSX has been the topic of several other reports. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Performance

Phillips 66 stock opened at $117.03 on Monday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The firm’s 50 day simple moving average is $122.91 and its 200-day simple moving average is $130.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $48.33 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $36.31 billion. During the same period in the prior year, the business posted $4.63 earnings per share. Phillips 66’s revenue was down 10.3% compared to the same quarter last year.

Institutional Trading of Phillips 66

Several hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its position in shares of Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after acquiring an additional 18,238 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after purchasing an additional 111,261 shares during the period. Charles Schwab Investment Management Inc. grew its position in Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock worth $397,193,000 after purchasing an additional 79,301 shares during the period. Finally, Mizuho Securities USA LLC raised its position in shares of Phillips 66 by 7,549.0% during the third 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 buying an additional 2,467,316 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

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.