Analysts Issue Forecasts for Phillips 66 FY2024 Earnings

Phillips 66 (NYSE:PSX) – Analysts at Zacks Research issued their FY2024 EPS estimates for Phillips 66 in a research note issued to investors on Monday, November 18th. Zacks Research analyst R. Department anticipates 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.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.63 EPS.

A number of other brokerages have also commented on PSX. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research note on Thursday, October 17th. Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Price Performance

NYSE PSX opened at $133.28 on Thursday. Phillips 66 has a one year low of $117.32 and a one year high of $174.08. The stock has a 50-day moving average of $130.28 and a 200 day moving average of $135.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market capitalization of $55.04 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 4.29 and a beta of 1.33.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently bought and sold shares of PSX. Mizuho Securities USA LLC grew 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 purchasing an additional 2,467,316 shares in the last quarter. Boston Partners increased its stake in Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after acquiring an additional 1,408,954 shares in the last quarter. ING Groep NV boosted its position in shares of Phillips 66 by 123.2% during 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 acquiring an additional 653,032 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Phillips 66 by 63.4% in the third 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 purchasing an additional 633,970 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

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.