Phillips 66 (NYSE:PSX - Free Report) - Scotiabank issued their FY2024 earnings estimates for shares of Phillips 66 in a report issued on Wednesday, January 8th. Scotiabank analyst P. Cheng forecasts that the oil and gas company will earn $7.80 per share for the year. Scotiabank currently 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.
Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $4.63 EPS.
Several other brokerages have also recently issued reports on PSX. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 2nd. Bank of America initiated coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price objective on the stock. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Barclays dropped their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut their target price on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $148.57.
Get Our Latest Stock Analysis on Phillips 66
PSX stock opened at $113.95 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $47.06 billion, a P/E ratio of 14.63, a PEG ratio of 4.06 and a beta of 1.38. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The business has a 50 day simple moving average of $123.10 and a 200-day simple moving average of $130.36.
A number of institutional investors have recently made changes to their positions in the company. Hilltop National Bank grew its stake in Phillips 66 by 28.0% in the fourth quarter. Hilltop National Bank now owns 9,006 shares of the oil and gas company's stock worth $1,026,000 after purchasing an additional 1,968 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in shares of Phillips 66 by 25.8% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,705 shares of the oil and gas company's stock worth $194,000 after buying an additional 350 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Phillips 66 by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 124,608 shares of the oil and gas company's stock worth $14,197,000 after purchasing an additional 1,320 shares in the last quarter. Legacy Private Trust Co. increased its stake in Phillips 66 by 31.8% during the 4th quarter. Legacy Private Trust Co. now owns 2,812 shares of the oil and gas company's stock valued at $320,000 after buying an additional 678 shares during the period. Finally, Fulton Bank N.A. raised its holdings in Phillips 66 by 9.2% during the fourth quarter. Fulton Bank N.A. now owns 4,792 shares of the oil and gas company's stock worth $546,000 after purchasing an additional 404 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.
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.
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