Piper Sandler Equities Analysts Boost Earnings Estimates for Phillips 66 (NYSE:PSX)

Phillips 66 (NYSE:PSX) – Piper Sandler upped their Q1 2021 earnings estimates for Phillips 66 in a note issued to investors on Wednesday, January 20th. Piper Sandler analyst R. Todd now anticipates that the oil and gas company will post earnings of $0.05 per share for the quarter, up from their prior forecast of $0.03. Piper Sandler has a “Overweight” rating and a $76.00 price target on the stock. Piper Sandler also issued estimates for Phillips 66’s Q2 2021 earnings at $0.62 EPS, Q3 2021 earnings at $1.40 EPS, Q4 2021 earnings at $0.98 EPS and FY2021 earnings at $3.04 EPS.

Several other equities research analysts also recently weighed in on the company. Raymond James upped their target price on Phillips 66 from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, November 20th. Mizuho decreased their target price on Phillips 66 from $92.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Cowen increased their price target on Phillips 66 from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 15th. Wolfe Research raised Phillips 66 from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Thursday, November 5th. Finally, Barclays reduced their price target on Phillips 66 from $73.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, October 6th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Phillips 66 currently has a consensus rating of “Buy” and an average target price of $71.76.

Shares of NYSE PSX opened at $73.16 on Friday. Phillips 66 has a 1-year low of $40.04 and a 1-year high of $102.99. The business has a 50-day moving average of $69.81 and a 200-day moving average of $61.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.75. The company has a market capitalization of $31.96 billion, a price-to-earnings ratio of -11.86, a PEG ratio of 3.65 and a beta of 1.67. Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, November 4th. The oil and gas company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.79. Phillips 66 had a positive return on equity of 3.38% and a negative net margin of 3.45%. The company had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the prior year, the business earned $3.11 earnings per share.

(Ad)

Through Berkshire Hathaway…Warren Buffett recently dumped $800 million of Apple stock…

And bought this instead!

He’s now moved $3.8 BILLION in a tiny niche of the tech sector billionaires are flocking to…

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Phillips 66 by 3.5% during the third quarter. BlackRock Inc. now owns 30,418,422 shares of the oil and gas company’s stock valued at $1,576,891,000 after buying an additional 1,019,044 shares in the last quarter. Wells Fargo & Company MN raised its stake in Phillips 66 by 0.7% during the third quarter. Wells Fargo & Company MN now owns 11,672,564 shares of the oil and gas company’s stock valued at $605,105,000 after buying an additional 81,872 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Phillips 66 by 48.5% during the third quarter. JPMorgan Chase & Co. now owns 6,997,564 shares of the oil and gas company’s stock valued at $365,202,000 after buying an additional 2,286,501 shares in the last quarter. Morgan Stanley raised its stake in Phillips 66 by 25.5% during the third quarter. Morgan Stanley now owns 4,065,585 shares of the oil and gas company’s stock valued at $210,759,000 after buying an additional 825,030 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Phillips 66 by 32.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,114,117 shares of the oil and gas company’s stock worth $109,576,000 after purchasing an additional 513,834 shares during the period. Hedge funds and other institutional investors own 64.56% of the company’s stock.

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 products to market; provides terminaling and storage services for crude oil and 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.

Featured Story: Momentum Indicators

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

7 Entertainment Stocks That Are Still Delighting Investors

2020 has created a real-life movie script that many production companies could have only dreamed of. But that dream has been a nightmare for many of the world’s leading entertainment stocks. Movie theaters and live entertainment venues remain shut down. The words “pent-up demand” have never resonated more. Consumers are desperate for ways to be entertained.

That may make it an odd time to consider looking at entertainment stocks. But that would be a mistake. In fact, some entertainment stocks have been among the biggest pandemic winners. This is a trend that is likely to continue as the holidays arrive. The phrase “home for the holidays” is likely to have a new meaning this year. That means consumers will still be looking for ways to be entertained. And now is the time for you to prepare your portfolio for that move.

To be clear, the novel coronavirus was not due to poor management from any company. And you can bet that in the future, many companies will leave some room in their balance sheet for future “acts of God.” But in the meantime, some entertainment stocks have been pandemic winners. And that means they will likely continue to be winners as long as the pandemic lingers.

View the “7 Entertainment Stocks That Are Still Delighting Investors”.