Zacks Research Weighs in on Phillips 66’s Q3 2024 Earnings (NYSE:PSX)

Phillips 66 (NYSE:PSXFree Report) – Investment analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for Phillips 66 in a note issued to investors on Friday, May 17th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings per share of $3.69 for the quarter, up from their prior estimate of $3.46. The consensus estimate for Phillips 66’s current full-year earnings is $12.38 per share. Zacks Research also issued estimates for Phillips 66’s Q3 2025 earnings at $3.68 EPS, Q1 2026 earnings at $3.24 EPS and FY2026 earnings at $13.04 EPS.

Phillips 66 (NYSE:PSXGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period in the prior year, the firm earned $4.21 earnings per share.

A number of other research firms also recently issued reports on PSX. Raymond James lifted their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Piper Sandler reduced their target price on shares of Phillips 66 from $187.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. JPMorgan Chase & Co. raised their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Bank of America upped their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.21.

View Our Latest Report on PSX

Phillips 66 Stock Performance

Shares of PSX opened at $147.08 on Monday. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a market cap of $62.35 billion, a PE ratio of 11.31, a P/E/G ratio of 1.98 and a beta of 1.41. The stock has a 50-day moving average of $155.59 and a 200-day moving average of $140.68. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Phillips 66

Institutional investors and hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC purchased a new position in shares of Phillips 66 in the first quarter worth $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 in the 1st quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 during the first quarter valued at about $28,000. Finally, First United Bank & Trust purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $31,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.