Phillips 66 (NYSE:PSX – Get Rating) – Equities research analysts at Jefferies Financial Group decreased their Q4 2022 earnings estimates for shares of Phillips 66 in a research note issued on Sunday, November 20th. Jefferies Financial Group analyst L. Byrne now forecasts that the oil and gas company will post earnings of $4.30 per share for the quarter, down from their previous estimate of $4.56. Jefferies Financial Group has a “Hold” rating and a $105.00 price objective on the stock. The consensus estimate for Phillips 66’s current full-year earnings is $20.11 per share. Jefferies Financial Group also issued estimates for Phillips 66’s Q2 2023 earnings at $2.72 EPS and Q2 2024 earnings at $2.14 EPS.
Phillips 66 (NYSE:PSX – Get Rating) last released its earnings results on Tuesday, November 1st. The oil and gas company reported $6.46 earnings per share for the quarter, topping the consensus estimate of $4.82 by $1.64. Phillips 66 had a net margin of 6.18% and a return on equity of 32.66%. During the same quarter in the prior year, the firm posted $3.18 EPS.
Phillips 66 Stock Up 3.0 %
NYSE:PSX opened at $112.29 on Tuesday. The company has a market cap of $53.07 billion, a PE ratio of 5.14, a P/E/G ratio of 0.31 and a beta of 1.44. Phillips 66 has a twelve month low of $67.08 and a twelve month high of $113.53. The company has a current ratio of 1.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $95.73 and its two-hundred day moving average is $92.48.
Institutional Investors Weigh In On Phillips 66
Hedge funds have recently modified their holdings of the business. Bornite Capital Management LP purchased a new stake in shares of Phillips 66 in the first quarter valued at about $8,639,000. National Asset Management Inc. grew its holdings in shares of Phillips 66 by 9.3% in the first quarter. National Asset Management Inc. now owns 13,142 shares of the oil and gas company’s stock valued at $1,136,000 after purchasing an additional 1,122 shares during the period. Securian Asset Management Inc. grew its holdings in shares of Phillips 66 by 5.5% in the first quarter. Securian Asset Management Inc. now owns 38,107 shares of the oil and gas company’s stock valued at $3,292,000 after purchasing an additional 1,978 shares during the period. Metis Global Partners LLC grew its holdings in shares of Phillips 66 by 82.6% in the first quarter. Metis Global Partners LLC now owns 6,979 shares of the oil and gas company’s stock valued at $602,000 after purchasing an additional 3,157 shares during the period. Finally, Sandy Spring Bank grew its holdings in shares of Phillips 66 by 1.9% in the first quarter. Sandy Spring Bank now owns 6,582 shares of the oil and gas company’s stock valued at $569,000 after purchasing an additional 123 shares during the period. 71.42% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, VP Joseph Scott Pruitt sold 3,000 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $111.86, for a total value of $335,580.00. Following the completion of the sale, the vice president now directly owns 15,302 shares in the company, valued at $1,711,681.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is currently owned by company insiders.
Phillips 66 Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Wednesday, November 16th. Phillips 66’s dividend payout ratio is presently 17.75%.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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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